We've used a similar corner shelving unit to create space in a small 7 by 9 ft room. It's a great, easy shelving solution for small spaces (although installing it was a bit tricky as the walls weren't plumb.
I love bright coloured paint jobs so these photos more than made my day. I love the feature wall completely saturated in one vibrant colour including coat hooks, radiator and shelving. I also love the idea of colour splashed randomly and artfully .