Hortons’ Estate Limited has completed the sale of a 1.5 acre development site on Eastern Avenue in Lichfield to independent managed storage company SureStore.
SureStore has acquired the site to create the region’s newest storage facility, having secured a multi-million pound investment from private equity funders Seneca Partners in 2018 to help realise its ambitious growth plans.
Unlike traditional self-storage, SureStore provides a fully-managed storage service to residential and business customers in the local area. The company currently operates three facilities across the Midlands and North West, including Bolton, Cannock and Northwich, with plans to open a further seven facilities, including Lichfield, within the next twelve months.
The new 45,000 sq ft state-of-the-art facility on Eastern Avenue will be built by Hortons’ Estate on behalf of SureStore. Construction has already started with completion scheduled for September 2019.
Hortons’ Estate acquired the site at No.7 Eastern Avenue from Tempest Ford in 2017. The site was most recently occupied by ladies’ lingerie manufacturer Naturana, until the factory’s closure in 2015.
The factory units have since been demolished to make way for the redevelopment of the site.
Richard Norgrove, property director at Hortons’ Estate, said: “We are delighted to have worked with SureStore to facilitate the opening of its new facility on Eastern Avenue.
“Lichfield District Council has been supportive throughout the process and we look forward to seeing the new unit operating later this year.”
Mike Wilson, managing director at SureStore, said: “The site on Eastern Avenue is a great location for our latest storage venture, being close to several major arterial roads. We are excited at the prospect of becoming an active member of the business community in Lichfield when we open our doors in the autumn.”
Birmingham-based property company Hortons’ Estate recently completed the development of a new retail park on Eastern Avenue, called Imperial Retail Park. The first occupiers, Lidl and Costa Coffee, opened in November, with a third occupier, PureGym, having also recently signed up.