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.
Great use of dead space with hidden sponge cabinet located below kitchen sink. Hidden pull-out panel below kitchen sink housing kitchen sponges and accessories. my parents did this in their house-such a great idea