Storage Vault, one of the largest providers of self-storage and flexible work space in Scotland, has acquired a new property in Hamilton, South Lanarkshire.
The property comprises of a detached three-storey office building on Barrack Street, ML3 – situated on a prominent corner location on a main arterial route. The purchase will be followed by a full refurbishment of the property into storage units for Hamilton and prime studio work space for our CoVault services.
The site is situated on the west side of Barrack Street, at its junction with Almada Street, lying a short distance from Hamilton Town Centre. The surrounding area is principally commercial in nature, with occupiers nearby including Hamilton Sheriff Court and the University of the West of Scotland. Hamilton has a resident population in the region of 50,000 and is situated approximately 11 miles south east of Glasgow City Centre.
Anthony McAteer, Managing Director, said: “This acquisition represents a great opportunity to develop a building with excellent potential in a superb location. The property on Barrack street is in an exciting and strategic location for CoVault – it is ideally suited to our flexible work space model. We look forward to adding the property to our operational platform and driving returns over the long-term.”
John McGlynn, Scottish Capital founder and Storage Vault Investor, said: “The acquisition of the Barrack Street property will complement our current portfolio of properties across Scotland. The brand has developed a first-class reputation with a focus on top-quality facilities and customer service. We have a clear vision of building the best self-storage and work space group in the UK and we look forward to supporting Storage Vault on their next stage of growth.”