UK SELF STORAGE INDUSTRY REPORT 2023

SUMMARY OF KEY FINDINGS

SELF STORAGE

OF CUSTOMERS SAY THEIR NEEDS FOR SELF STORAGE HAVE CHANGED DUE TO COST OF LIVING 17 %

OF SELF STORAGE CUSTOMERS EARN ABOVE THE NATIONAL AVERAGE WAGE 55 %

ANNUAL REPORT 2023

OF CUSTOMERS HAVE USED SELF STORAGE BEFORE 32 %

OF BUSINESS CUSTOMERS RUN THEIR ENTIRE BUSINESS FROM THEIR SELF STORAGE UNIT 20 %

RENTAL RETURNS UP 4 %TO £ 27.19 PER

OF CUSTOMERS HAVE HAD THEIR UNIT FOR OVER 5 YEARS 20 %

OCCUPANCY STABLE AT 83.3 %

CHURN AT 81 %

SQ FT

OF CUSTOMERS TRAVEL LESS THAN 15 MINUTES TO THEIR UNIT 62 %

OF THE PUBLIC THINK SELF STORAGE IS TOO EXPENSIVE 36 %

GROWTH IN SELF STORAGE SPACE 5.7 %

EBITDA UP 3 %

OF PEOPLE IDENTIFIED A SELF STORAGE BRAND FROM ITS ROADSIDE STORE PRESENCE 66 %

78 % OF OPERATORS MAKING SUSTAINABILITY IMPROVEMENTS TO THEIR BUSINESS

OVER 2M SQ FT OF ADDITIONAL SPACE OCCUPIED COMPARED TO LAST YEAR

OF THE PUBLIC HAVE A GOOD UNDERSTANDING OF SELF STORAGE 50 % LESS THAN

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