Complex strengthens Heitman’s presence in Ireland’s self-storage market
Heitman LLC (“Heitman”), a global real estate investment management firm, today announced completion of an approximately 150,000 square foot self-storage facility in Liffey Valley, Dublin. This development further establishes U Store It as a leading provider of self-storage facilities across Ireland. Heitman acquired U Store It in 2022, as part of its global core plus strategy, and has grown the business from six to nine assets across Ireland.
The new Dublin facility comprises more than 2,500 high-quality storage units designed to accommodate a range of personal, commercial and specialist storage needs, featuring high-quality amenities, ample covered loading areas and parking, a first-floor café and hot-desking office accommodation. Designed with a strong commitment to long term sustainability, the facility also features rooftop solar energy production and an eco-conscious roofing system.
“With supply historically constrained and operational capacity limited, we see value in Ireland’s self-storage market, which continues to benefit from shifting consumer behavior and growing demand for flexible space solutions,” said Tony Smedley, Managing Director and Head of European Private Equity at Heitman. “As we continue to scale our exposure to alternative sectors across European commercial real estate, we believe Irish self-storage stands out as a high growth opportunity with long-term potential.”
“This development is a strategic extension of our footprint in Ireland, capitalizing on the asset’s prime location near the city center and key residential neighborhoods,” said Gordon Black, Portfolio Manager of Heitman’s global real estate investment strategy.
Heitman has been investing in European self-storage since 2008. With the completion of the Liffey Valley facility, Heitman’s total self-storage footprint in Ireland is approximately 800,000 square feet, and its overall European self-storage portfolio totals 1.5 million square feet.
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