The Self Storage Association UK Annual Industry Report provides a comprehensive overview into the self storage sector.
The 16th annual industry report examines a range of data points and surveys of operators, customers and investors on the performance of the sector, and growth prospects for 2022.
- Compared with 2021, average occupancy has increased by 1% to 83.3% (record high)
- Average rental rate (ARR) has increased by 9% in the last 12 months to £26.13psf (record high)
- 56% of operators decreased the level of discounts being made in 2021
- Churn rate has fallen from 118% to 76%
- 29% of domestic customers used self-storage for reasons associated with moving home
- Industry annual turnover has increased by 4.5% to £930 million
- There are currently 2,050 self storage facilities in the UK (an increase of 2.65%), providing 52 million sq ft.
- UK storage space per head of population is 0.76 sq ft
- Domestic customers make up 81% of space let, with the remainder being business users
Alongside the UK Self Storage Annual Report, we have provided access to an online dashboard that allows you to interactively look at occupancy and rental rates on a geographical and trend basis.
Download the report to find out more about the self storage sector. If you would like to discuss any aspect of the report findings, please contact a member of the team.