Self-storage occupancy, rents and profitability on the rise

Self storage sites to be acquired

The booming self-storage market is showing no sign of slowing as occupancy levels, rents and profitability all continue to grow, according to the Self Storage Association’s (SSA’s) annual report.

Average occupancy across the industry grew by 2.2 percentage points to reach 76.1% in 2017, having grown steadily from 62.7% in 2011.

Other key industry metrics are also positive, the report – which is produced in collaboration with Cushman & Wakefield – reveals. Average net rents rose by 2% in 2017 to hit a record high of £23.08/sq ft and average profitability across the sector increased by 5%.

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