Industry news: UK annual industry report

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Self Storage Association UK (SSA UK) recently released their annual industry report on the self storage industry in the UK.

The organisation collected data from the 2020 calendar year from industry operators, customers currently using self storage and the general public. Key insights were gathered on the state of the UK self storage industry and how it has been impacted by COVID-19.

Read on for some of the key insights.

Key data from SSA UK annual industry report

Below are a few of the key results gathered from the report. Consider how this data impacts your business.

  • Occupancy on current lettable space increased from 76.2% to 82.3%

  • The average net rental rate in the UK is £23.94 per square foot per annum

  • An impressive 92% of customers are satisfied with the service offered by their self storage provider

  • Public awareness of self storage is split 50 / 50

  • Divorced or separated people are twice as likely to use self storage than those that are not

  • The most common life event leading people to use storage is death in a family

  • 29% of existing self storage customers are involved in moving home

  • 43% of self storage customers have rented a unit in the past

  • Customer preference to book their unit while in the store has dropped to 25% (from 33%)

  • Customers are three times more likely to use self storage when renovating their home

  • The pandemic only changed the need for storage for 17% of customers

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