GaragePark is the leading developer and operator of business-storage parks in the Netherlands. The company has developed a winning concept with premium storage units and a high level of security. The company has successfully realized over 50 parks in the Netherlands. Over 8.000 entrepreneurs and consumers use GaragePark units as their storage- or workspace.
Our investment
We partnered with GaragePark in 2022, alongside founder and CEO Rick Venema, to support the next phase of the company’s development. We saw an opportunity to accelerate growth and create additional value by transforming the business model from a build-to-sell model to a build-to-let strategy. Together with the GaragePark team we created a plan to develop and manage a self-owned portfolio of parks.
We saw a window of opportunity for a winning concept to be rolled out across Europe. The self-storage market in Europe is evolving, with demand increasing due to urbanization. However, penetration is still a factor ten lower than the more mature US market.
GaragePark is ideally positioned to benefit from this window of opportunity. The company has developed a winning concept, underpinned by best-in-class maturity cycles and strong unit economics. Its state-of-the-art land-sourcing approach and prefabricated model enable fast, predictable, and de-risked developments. With remotely operated parks and rapid occupancy ramp-up, GaragePark offers a scalable platform poised for continued growth.
We have refined the expansion strategy together with management, focusing on high-demand urban locations. We support the company in scaling its operating model and securing long-term financing. The company has started developments in Germany, executing on our ambitions for international expansion.
Tom Greenwood