Storage King, which operates 28 self-storage locations in England, has launched a property-management service for other facility operators in the United Kingdom. Storage King Management 1st will offer access to the company’s operational systems and management expertise.
Customers will receive assistance in setting business targets and monitoring performance, according to a press release. They can also get help with revenue management, website development, social media, search engine optimization and pay-per-click advertising. They’ll also have access to Storage King’s call-center services.
“We are excited to bring Storage King Management 1st to market, a project that everyone in the company has been very close to,” said Robin Greenwood, CEO. “The team has been hard at work over the past year putting in place systems, processes and resources that will add great value to a U.K. operator who is looking to improve on their investment. With over 100 years of self-storage experience, our management team knows what it takes to successfully run a self-storage business.”
Last month, Storage King agreed to sell four self-storage properties and a development site in Australia and New Zealand to Abacus Property Group, an Australia-based, publicly traded diversified real estate investment trust that had owned a minority interest in the operator. The $57 million deal is expected to close by year-end.
The Storage King portfolio includes owned facilities as well as properties under licensing and management agreements, primarily in the Southeast. It comprises more than 575,000 gross leasable square feet. The portfolio was acquired last year by Stor-Age Property REIT, which operates the Stor-Age Self Storage brand in South Africa.