Self-storage and flexible work space company Storage Vault has purchased a 1.74-acre plot in Coatbridge as it’s 10th site.
The property commands a prominent roadside position on the south site of Coatbridge on Whifflet Street, the main arterial route into the town centre from the Junction of the A725 (East Kilbride express way) and the M8 Glasgow to Edinburgh motorway. It’s a quarter of a mile north of the Shawhead interchange which links the M8 to both Coatbridge and Bellshill areas.
The property was previously occupied by HSS Hire and is a well maintained industrial/trade counter unit – built in 1980 of steel portal frame construction. The 35,000 sq ft warehouse will be divided into internal self-storage, two retail units to the front and six individual CoVault studio work spaces at the rear. The large, secure yard behind the property will be used for external, drive-up self-storage.
Anthony McAteer, managing director, said: “We are thrilled to announce our latest acquisition at Whifflet Street, Coatbridge. We plan to open in September this year, making Storage Vault Coatbridge our fourth operational site – with Bishopbriggs and East Kilbride opening in November 2018.”
John McGlynn, Scottish Capital founder and investor in Storage Vault, said: “Whifflet Street fits our real estate investment strategy of acquiring prime industrial space that requires investment and can be quickly developed into an income generating asset. We continue to assess other investment opportunities that will complement our existing portfolio.”