Slough-based, Space Station, has expanded its presence into the Midlands with loan facilities of £1,030,000 million provided by The Royal Bank of Scotland (‘RBS’) to support the company’s latest acquisition in Birmingham.
- RBS helps Space Station acquire premises in Birmingham
- This latest deal marks the sixth acquisition in the group
- Company is forecasting their turnover to rise to £4.3 million
Space Station own and operate five self-storage facilities in and around Slough and Greater London area, in addition they run management contracts for two facilities in North London. They have taken the opportunity to expand their brand into the Midlands by acquiring their sixth site in Kings Heath. The premises will be undergoing a phased refurbishment programme designed to cause only minimal disruption to customers which is expected to be complete early next year. The property is currently 75% occupied, which is also the industry average, and will be managed by existing staff.
RBS has been an active supporter of Space Station since the company was founded over 30 years ago and is delighted it could assist with their latest acquisition. Kevin Prince, General Manager at Space Station, said, "This is an exciting period for us as we expand our services into the Midlands. We have built our reputation in Slough as a credible self-storage provider and acquiring Kings Heath will allow us to increase our annual turnover to £4.3 million this year.”
Steve Bennett, Senior Relationship Manager, added, “Space Station is a fantastic example of how the bank can support local SME’s achieve great success. I wish Kevin all the best as he embarks on the refurbishment programme and establishes the Space Station brand name in Birmingham.”