The Porto Business Plaza Terminal, the former Campo 24 de Agosto bus terminal, will house the largest self-storage facility in the North of the country. The space, which currently has 4,500 m², is undergoing renovations that will expand its area to 6,300 m².

The project is in the hands of OrangeSpace, which signed a 25-year lease agreement. In this transaction, Cushman & Wakefield (C&W) represented Grupo Capitólio, owner of Porto Business Plaza.

The self-storage concept originated in the United States and has been gaining popularity worldwide, offering a practical solution for those who need extra space. OrangeSpace is one of the leading companies in the sector, with units in cities such as Gaia and Lisbon. The new unit in Porto will be the second largest of the company, which stands out for the flexibility of its services, eliminating long-term contracts, deposits, or minimum stay periods, differentiating itself from most of the offerings in the rental market.

The facilities will be divided into two floors and should have approximately 800 storage units, with areas ranging from 1 m² to 40 m², and prices ranging from 30 euros to 600 euros.

In addition to the self-storage business, part of the old structure will be adapted to house the offices of the Capitólio Group.

“The transformation of the former Campo 24 de Agosto bus terminal into a new OrangeSpace facility, in the Porto Business Plaza, is a strategic operation that will have a positive impact on the area and promote the provision of services in the center of Porto. This project highlights the strong growth of the self-storage market in Portugal, driven by urban densification and the scarcity of storage spaces. The growing maturity of this sector reinforces its role as a viable and sustainable alternative in the management of urban space. We are grateful to be participating in this project”, highlights João Paulo Silva, consultant in the Industrial, Logistics & Land department.