£250k investment brings expansion and jobs

Thu, November 23rd, 2017

New Liverpool Rent A Space scheme set to open in January 2018

Investment worth £250,000 by self-storage and business space provider Rent A Space will add further capacity and help create more new jobs at its Dunnings Bridge Road facility in Netherton.

Work is currently underway on a mezzanine fit-out that will provide an additional 25,000 sq ft of lettable space at the unit, which already boasts 50,000 sq ft of facilities.

Co-owner Kevin Murphy said that business related to the site has helped create over 100 jobs since the building opened with the latest phase of development designed to help support a range of new tenants and create even more employment opportunities.

Mr Murphy and business partner Andrew Donaldson launched Rent A Space Liverpool in September 2015 prior to opening a second site, a design and built facility in Shrewsbury, in September 2016 and plan to scale to a third North West site during 2018.

Prior to Rent A Space the two were directors of Big Storage Ltd, which operated a portfolio of five self-storage facilities, specialising in household self-storage and situated at various locations across the North West. The business was acquired by Big Yellow Group in January 2015. This provided the entrepreneurial duo the opportunity to develop a new business model within the fast growing sector they know so well.

Mr Murphy said: “With 17 years’ experience in the self-storage sector, I had first-hand experience of where the market trends were heading and I feel that being ‘Rent A Space’ rather than ‘X Storage’ we can capitalise on the growing demand for flexible workspace while also offering a modern version of our core business, self-storage.”

Their burgeoning business offers a mix of trade units, office space, warehousing and studio space, underpinned by traditional household and business self-storage units each supported by the latest technology and set within a modern environment.

The Liverpool site is home to a range of independent businesses working from just one unit, such as e-Bay and online retailers, to bigger tenants including a health supplements outlet which has grown from one staff member to 10, local authority initiative New Directions which offers day care facilities for clients and employs eight staff, and an online music store, which has boosted its workforce from one to six.

Start-ups are encouraged with free hot-desking, free wi-fi and free meeting room facilities which has so far led to five new ventures taking the next step on their own path to business success and moving into their own independent office space.

Mr Murphy said: “We have helped to create around 100 jobs linked to the businesses based here. Our expansion will help to create even more.”

As part of its commitment to the local community the firm also provides valuable support and advice to budding entrepreneurs. Next February and in conjunction with the local authority, Rent A Space will host a Start-Up event featuring existing tenants as case studies, explaining their business journey, so far, and, perhaps more importantly, the pitfalls to avoid.

Mr Murphy said their novel business model has proved popular with local entrepreneurs. Their existing 300 units are 90% full and many of the 250 new units set to open in January have already been snapped up.

He added: “We offer something different to the standard storage site.

“We have the latest technology. Every room is individually alarmed, which is pretty unique, and customers have their own unique six-digit access code to come and go. We also have 24-hour monitored security.”

The business partners purchased the freehold to both the Liverpool and Shrewsbury sites and have been supported throughout their growth strategy by NatWest bank, which has provided the additional £250,000 facility for their latest expansion.

Tim Hine, NatWest commercial banking manager to Rent A Space, said: “Rent A Space (Self Storage) Ltd benefits from a strong management team, with an excellent track record, who have a clear strategy on how they want to develop their business. The investment at their Liverpool unit will help them to maintain a competitive edge in the market.”

Mr Murphy added: “Nat West, and Tim in particular, have been brilliant in supporting us with our vision and plans for growth and we look forward to working with them to continue the success and scalability of Rent A Space.”

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Rent A Space Ltd

9 Dunningsbridge Road, BOOTLE, Merseyside, UK, L30 6UU

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