Harrington Wyles provide a self storage site finding service for both new and existing self storage operators. Whether you are looking to enter the industry with your first purchase, develop a site from scratch of add to your portfolio, HW can help. We undertake comprehensive searches for both new and existing opportunities.
This maybe identifying locations that are undersupplied and development opportunities within these areas. Or finding reactively managed self storage assets where value can be added through improved marketing, management and expansion.
Based on your criteria and objectives, we will carry out a full search, appraising opportunities that are identified and providing a short list of potential acquisitions. We will make approaches on your behalf and negotiate with vendors and their agents. We will liaise with other professional advisors, for examples lawyers, appraisers and real estate agents on your behalf.
Much of this process can initially be done remotely. However, when terms are initially agreed HW will also assist with the due diligence process. This involves visiting the facility, competitors and the area, providing an incite into any local influences on or near the facility. As with any property acquisition the one element that cannot be changed is the location.
By undertaking site visits many of the factors that may positively or negatively affect the performance of the store can be identified. This can be as simple as the traffic flow past the frontage, restrictive signage, a new competitor developing along the street. Although a vast amount of work can be done remotely, a full site visit is key to mitigate many risks and really understand the opportunity.
Harrington Wyles provide the following services to help you achieve your goals:
- Proactively find self storage deals
- Undertake initial assessments
- Identify where value can be added
- Provide industry expertise in the appraisal and negotiation process
- Assist with negotiations to get deals agreed and completed
For more information on how Harrington Wyles can help you contact us