Cinch Self Storage and Partners Acquire 34,000 Sq Ft Watford Warehouse

London, 7 October 2022 – Padlock Partners UK Fund III and operating partner Cinch Self Storage have purchased a site for a new facility in Watford for approximately £9m.  

Cushman & Wakefield’s EMEA Self Storage Team represented Cinch Self Storage and Padlock Partners UK Fund III in the acquisition of the 34,000 square feet (sq ft) former Mothercare warehouse in Watford. 

The warehouse is located just off the M25 motorway, next to a new residential scheme approximately 16 miles northwest of London. The unit comprises an open plan warehouse and secure parking.  

John Stevenson, CEO at Padlock Partners UK Fund III, said: “We are happy to acquire the Watford property in such a great location and community. This acquisition contributes greatly to our efforts to build a first-class self-storage platform and fits perfectly with our nearby locations. Credit to Cushman & Wakefield as well for their skilled guidance and exemplary support during the process.” 

Richard Owen, Director at Cinch Storage, said: “The unit provided us with a unique chance to acquire secure warehouse space in an incredibly desirable location. Once fully redeveloped, the store will have in excess of 65,000 sq. ft of lettable space and we will look to begin trading in the summer of 2023.” 

Steffan Morgan, an Associate in Cushman & Wakefield’s Specialist Markets team, said: “We are delighted to have advised Cinch Self Storage and Padlock Partners UK Fund III on this acquisition. This was a rare opportunity to secure a prime site in a competitive area where warehouse space doesn’t often change hands.”