Login to UKBP
Commercial Property News
Self storage property 'resilient during the downturn'
Businesses using commercial property to offer self storage services have remained resilient during the economic crisis.
This is according to a new report produced by Mintel on behalf of the Self Storage Association (SSA), which revealed that the past year brought a 4% rise in the number of self storage facilities around the UK.
In total, there are now approximately 800 primary sites across the country and firms are confident that 2010 will bring further improvements.
"The industry has shown itself to be reasonably resilient over the last year and remains cautiously optimistic for the year ahead," remarked chief executive officer of the SSA Rodney Walker.
According to the publication, a large amount of business property has changed hands recently as a result of consolidation and investment, with notable deals including Alligator Self Storage's purchase of 12 facilities from Storage King last month.
Figures form the SSA show that the self storage industry generates revenues of around £360 million and uses around 26 million sq ft of commercial property for rent.
This is according to a new report produced by Mintel on behalf of the Self Storage Association (SSA), which revealed that the past year brought a 4% rise in the number of self storage facilities around the UK.
In total, there are now approximately 800 primary sites across the country and firms are confident that 2010 will bring further improvements.
"The industry has shown itself to be reasonably resilient over the last year and remains cautiously optimistic for the year ahead," remarked chief executive officer of the SSA Rodney Walker.
According to the publication, a large amount of business property has changed hands recently as a result of consolidation and investment, with notable deals including Alligator Self Storage's purchase of 12 facilities from Storage King last month.
Figures form the SSA show that the self storage industry generates revenues of around £360 million and uses around 26 million sq ft of commercial property for rent.
Thu, 11th Feb 2010