SCG JWD Logistics Public Company Limited (SJWD) became Thailand's undisputed leader in the self-storage business with seven branches - the highest number - and the total combined service area of more than 15,000 square meters. At the same time, the Company is teaming up with partners to launch two new branches. One in Pattaya is situated within the Pattaya Avenue project which sits logistically at the economic center of the Eastern region, specializing in motorcycle storage for customers returning overseas. Another new branch is at Bangsue, which is the strategic central location for rail transport in the ASEAN region. Large-size storage rooms are being planned to support customers wanting to store cargoes while awaiting to transport them by rail.
Mr. Charvanin Bunditkitsada, Co-CEO of SCGJWD Logistics Public Company Limited (SJWD), ASEAN's largest logistics and supply chain service provider announced that since the Company has made foray into the self-storage business in 2018 through its subsidiary JWD Store It Company Limited, it has teamed up with Store It! Management Private Limited, Singapore's leading self-storage service provider, and Central Pattana Public Company Limited, as investment partners to boost strength in order to expand the B2C business in response to strong demand for rental spaces in strategic locations. This is in recognition of the growth potential of this business that has arisen from the current trend of smaller homes as the land prices rapidly continue to rise while the expansion of e-commerce businesses have led to elevated need for storage spaces outside of residences. At present, self-storage services under the name "JWD Store It!" have been established at seven locations, namely, Sri Kreetha, Siam, Thienruammit, Ramindra, Rama 9, and Ladprao in Bangkok, and Patong in Phuket. Within this year, two more branches will be open for business in Bangsue in Bangkok and in Pattaya, raising the number of branches to nine, with the total combined storage area of more than 15,000 square meters.
From the already established seven branches of self-storage facilities as at the end of 2022, the Company is now recognized as the leading operator in the self-storage business with the highest number of branches that are actively open for business and has arisen to become Thailand's undisputed leader in the self-storage for rent business. The current plan calls for the cooperation with partners to continue to expand the branches in potential locations of high-density residential areas, business centers and other strategic locations with high growth potential.
"We see the self-storage business in Thailand as a high-growth opportunity in the long term, and therefore are ready to continue to expand branches continuously to maintain our business leadership position through cooperation with Store It! Management Pte. Ltd. and Central Pattana Plc. to increase the number of branches while offering a wide variety of storage space options, such as for personal belongings, safe deposit box, wine storage, vehicle storage, as well as luggage storage, to fulfill a wide variety of needs and demands. Also, the Company is preparing to expand the services for automatic lockers for storage of personal effects with the plan to launch this service for the first time at Central Festival Phuket shopping center to cater to the demand from tourists following the full opening of country," Mr. Charvanin further added.
Mr. Vasin Supavej, General Manager of JWD Store It Company Limited, the leader in self-storage business under the "JWD Store It!" brand, added that in regard to the launches of the additional two branches within this year, the company is set to launch the Pattaya branch in July locating in the Pattaya Avenue project on Pattaya 2 Road with a rental space of 1,700 square meters out of the total workable space of 2,400 square meters, and rental cost starting at 900 baht per month. This branch is a cooperative effort with partner Central Pattana Plc. to identify a location in Pattaya City which is considered to be an essential business center in the Eastern region, targeting tourists visiting this seaside resort city and expatriates living in the vicinity. Other potential customers include companies and shops that need storage space for goods, personal effects or documents. A major selling point is that customers can have access to the facility 24 hours a day seven days a week.
In September, the company is preparing to launch Store It! Bangsue branch with rental space of more than 2,800 square meters out of the total workable area of over 5,000 square meters. This will become the flagship store with the largest serviceable area among all existing branches, and locating on Therddamri Road in Chatuchak District, which has a population density of 150,000 people - the 10th most populated district out of the total 50 Bangkok districts. The branch is located only 250 meters from Krungthep Aphiwat Central Station which has become widely recognized as ASEAN's most strategic rail transport hub. The rental cost at this branch is expected to start at about 700 baht per month. A selling point at this branch are large 50-square-meter storage rooms that can be configured into even larger 200-square-meter units. Also to be available are drive-up units that a client can drive the vehicle right up to the respective unit to have convenient access to the belongings, as well as to drive right into the unit itself. This facility is expected to fulfill the demand of the proprietors who would be in the process of transporting their goods by rail as the Krungthep Aphiwat Central Station in only a short drive away.
"Presently, the self-storage facilities at the existing seven branches are more than 70-percent occupied, so we are confident that the two new branches will be enthusiastically received. The rental targets are set at 30 percent, 60 percent and 90 percent for the first year, second year and third year, respectively. The investment for the Pattaya branch is about 13 million baht, while about 84 million baht has been earmarked for the development the Bangsue branch. The return on investment is expected to be achieved within 6-7 years," Mr. Vasin added.
Source: MT Multimedia
