Continued growth for self storage

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The UK’s self storage industry is continuing to grow despite the economic difficulties, according to a Mintel report commissioned by the UK’s Self Storage Association.

The number of self storage sites has grown by more than 10% in the last year to 750 primary facilities, generating revenues of around £360m.

The growth in the amount of rental space available in 2008 remained consistent with the previous five years at around 8%, increasing by around 2m sq ft. However the market has further to grow, according to the report, as the UK market is not as mature as the US or Australia.

Awareness of self storage is increasing as well due to wider trends such as family break up and downsizing – around 50% of the population is now aware of the industry, up from 29% two years ago, the report said.

Rodney Walker, chief executive officer of the SSA UK, said: ‘Despite these positive findings, the industry still faces challenges ahead. The market in the South East continues to lack good quality locations, financing for business in the current climate and a slow down in the housing market have also influenced growth rates.

‘Indications however suggest that the sector remains relatively resilient and well placed to face the economic challenges ahead. In more mature markets, the self storage sector has seen sustained growth through a number of economic and housing downturns and we are confident that the UK is well positioned to do the same.’


Readers' comments (1)

  • I guess that with the recession, everybody has to start making the best of their home instead of looking for a new one. This starts with a bit of decluttering, to make us feel better about ourself and our home. Lately I've had more and more customers taking up storage units in order to regain the use of their spare room either so they could rent it out and make some money or to make room for a child's bedroom instead of looking for somewhere bigger which they might not be able to afford just yet. So our storage units have become walk-in wardrobes, garages, garden sheds, and occasionally wine cellars! It's good to see customers leaving with a weight off their shoulders and a smile on their faces! If you're intrigued and/or interested drop me a line and check our website at www.bigyellow.co.uk Thanks, Steph

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