Self-Storage Growth Acquisition
Matthews & Goodman continues to cement its position as a leading advisor to the storage solutions industry by assisting a joint venture between Rockpool Investments and Ready Steady Store with its latest acquisition.
The firm’s national business space team secured the freehold acquisition of a 41,384 sq ft former Bidfood warehouse depot located on a 1.9-acre site at King Edward Avenue, Worthing, Sussex. With completion subsequently delayed to allow the owner occupier to relocate, the joint venture will now undertake a full refurbishment to provide a new storage facility to be operated by Ready Steady Store.
This follows on from the acquisition of an 18,000sq ft warehouse in Shoreham-by-Sea by Matthews & Goodman on behalf of the joint venture. The firm continues to advise as they further their expansion into target towns throughout the South East of England.
James Saxby from Matthews & Goodman’s national business space team commented: “We secured the property despite a competitive bidding environment, with strong interest for both employment and residential uses. Given the current tight freehold supply conditions in the south east - but particularly on this part of the south coast - the opportunity to acquire a freehold building of this size is rare and particularly rewarding for all involved”.
Graves Son & Pilcher and Solace Property Consultancy were the vendor’s agents.
For more information contact James Saxby.