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DMG Services to expand its self storage business in multi million investment
DMG Services, which encompasses the leading businesses of Filestores and Shred-it, has announced an investment of €1.5 million to develop its self storage business. The investment will see the creation of Ireland’s largest self storage facility (130,000 sq ft) which will be located in Deangrange Business Park and will service commercial and residential requirements in the South Dublin area. DMG Services is also seeking to develop another facility in the Dublin market and is currently evaluating suitable locations. This will see an investment of an additional €1.5 million over the next six to eight months.
The investment will build on the company’s existing presence in the self storage market. The company already has a self storage facility on Fosters Avenue. This along with the two new facilities is to be re branded Need More Space and will provide customers with secure storage. DMG Services estimates that the market for self storage is increasing primarily due to the lack of available storage space in offices, modern apartments and houses.
Commenting on the expansion, Cecil Ryan, Managing Director, DMG Services said, “This is a significant commitment and investment by DMG Services to develop our existing expertise in a market that offers excellent potential for growth. Space is a valuable commodity in the Dublin area and we believe the opportunity exists to tap into both the commercial and residential markets for storage space.
Research has indicated that the Irish self storage market will experience a similar 10% growth rate to that of the UK self storage market. The expected growth rate in the Irish market is due to a number of factors, including a shift towards living in small, high-density housing developments with very little storage space, increased population mobility, rising disposable incomes and high commercial property occupancy costs.”
Need More Space is ideal for homes or businesses looking for short or long term storage space. With Christmas approaching, many retailers have already availed of short-term storage space to store excess stock. As security is a priority, DMG Services has invested heavily in a high tech security system which involves individually alarmed rooms, PIN code keypad access, along with CCTV and 24-hour monitored alarm system.
The company estimates that the requirement will be approximately 60/40 commercial/residential. The Deansgrange facility will be open for business by September 12th 2004 and will initially employ four people. The rates for storage begin at €18 per week.
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