Intriva Capital, the independent alternative asset manager, has launched a platform called SpaceGenie which could grow to more than 50 self-storage sites across Germany.
The “drive-up” concept sees customers accessing the space directly from their vehicle and is a seen as an easier business to build and operate than core self-storage facilities.
Intriva’s SpaceGenie has already acquired its first sites. By the end of 2022, the new company hopes to have a minimum of 10 located across the Rhine-Main Neckar area in Germany. With building work starting soon, SpaceGenie’s drive-up self-storage platform will total more than 250,000 lettable m2 by the time of stabilisation. The platform will span the main urban centres and metropolitan hubs across Germany.
Simon Finn, managing partner, said the growth of e-commerce and flexible working during the pandemic, combined with new housing developments prioritising living space at the expense of storage and people moving more often, had accelerated the demand for self-storage in Europe’s largest economy.
‘As the first institutional-quality drive-up self-storage platform in Germany, SpaceGenie will be uniquely positioned to meet the growing demand for storage from small and medium businesses as well as private consumers.’
