Space Plus, the provider of self-storage facilities in combination with innovative workplace concepts, such as co-working & Flex Office, has acquired a property in Hanover, as part of its active investment strategy in Germany. The parties have agreed not to disclose the purchase price.
Situated at Badenstedter Str. 58a, the property is a former furniture store in Linden-Mitte, an established area of Hanover, the state capital of Lower Saxony. The building will be completely reconfigured during the next twelve months. The planned investment volume is around €10m. In addition to storage units ranging from 1 sq m to 30 m², in a total area of almost 9,000 thousand m2, Space Plus plans to create additional co-working and flex-office space.
Space Plus pursues a high-quality approach, using sustainable building materials and applying state-of-the-art technology. The aim is to create innovative and individual accommodation solutions that satisfy the expectations of each individual user and comply with ESG standards. The detailed specification of the accommodation includes flexible office units with floor areas between 4 and 10m2, together with seminar rooms. What's more, car parking spaces, high-speed Internet and beverages are included free of charge. The store will offer its customers a fully digital keyless experience matching the current and future demands for savvy users and ultimate convenience.
The two-storey building, constructed in 1998 on a c. 11,650 m2 site, has excellent road connections, with easy access from the nearby A6 motorway. As well as being just minutes away from the city centre and residential areas, numerous well-known organisations, including Volkswagen Commercial Vehicles, Continental, the Hanover Medical School and Deutsche Bahn, are established in the immediate vicinity.
Russell Jordan, Managing Director of Space Plus, comments: “Both in work and private life, the greatest possible flexibility is becoming ever more important. We at Space Plus want to provide our clients with optimal support in this challenge, by providing innovative space solutions. Our combination of a diverse range of storage space and innovative workplace concepts for individuals and companies sets our model well apart from the competition. The market has been very well received, so we want to continue our expansion by acquiring suitable properties. The location of this new store is super convenient due to its close proximity to the city centre and residential neighbourhoods where to date there was no supply".
Space Plus was founded as a joint venture for the German self-storage market by the private investment group MARCOL and alternative investment firm Angelo Gordon, in February 2021. Led by Russell Jordan, a veteran of the European industry, the company has now secured 17 locations in Germany.
Space Plus is to operate facilities in Aachen, Bochum, Bremen, Braunschweig, Cologne, Dortmund, Essen, Gelsenkirchen, Hannover, Hagen, Kassel, Krefeld, Ludenscheid, Nuremberg, Oberhausen, Osnabruck and Stuttgart-Sindelfingen.