Patrick Stephens, managing director of The Shred Centre, has invested £30,000 in a spin-off business in response to a rising demand for storage.
The Storage Vault is located in a 10,000 sq. ft unit previously home to The Shred Centre on Merrington Road Industrial Estate, near Spennymoor, County Durham.
It will primarily offer box storage for businesses – freeing up valuable office space by allowing secure off-site storage for time-sensitive documents.
In part, the demand has arisen due to the pandemic as firms seek to create more space within the workplace to meet social distancing rules.
The facility also provides space for general storage, including vehicles and caravans, as well as six shipping containers available to rent as self-storage units. Such is the interest, that the firm is awaiting delivery of a further four shipping containers.
Patrick said that the inspiration initially came from clients of The Shred Centre who are unable to destroy and recycle certain legally sensitive files and documents.
He said: “We work with many firms in the accountancy and legal profession across the UK who have to retain files for a minimum of six years or longer, depending upon the particular disciplines of the law.
“Using premium office space is an unproductive and expensive way to store documents that may never see the light of day for many years. Many businesses also need to reconfigure their workplaces so that staff can meet social distancing rules.”
The storage boxes will be kept on a racking system made up of 2,000 pallets stacked three high and two deep, offering huge capacity.
“It’s the perfect complimentary business solution, as once the documents are no longer required, they can be transport the short distance to The Shred Centre’s new larger premises where they will be securely disposed of and recycled.”
Patrick, who founded the business with wife Natalie in 2013, said that The Storage Vault is a direct result of identifying fresh revenue streams during the current period of economic uncertainty.
The Shred Centre began the process of diversification during the spring lockdown after it invested £200,000 in specialist equipment that allowed it to handle material from other companies involved in the collection of various grades of paper and cardboard.
As a result, it increased the amount of paper it processed from 200 to 600 tonnes per month, and recently expanded the business with the acquisition of Lanchester-based Shred Base.