Storage Industry Booming in the UK

Storage Industry Booming in the UK

The UK Storage Industry is booming,

An excerpt from a recent article mentioned 5 facts about the UK Storage Industry.

Here are 5 of those facts!  

  1. Can you believe that in the UK, the total turnover of the industry in 2013 was estimated at £385 million, according to the Self Service Association (SSA). The UK now has 30 million sq ft of storage to rent with 250,000 customers.  Wouldn’t we rather this money benefit our neighbours and friends rather than another big storage company?
  2. Most of us (90%) find it difficult to get rid of our treasured possessions!  This is supported by a survey of UK households by Access Self Storage.  It could be because of all those memories that old schoolbooks, birthday cards, photographs, old books or clothes, have for us. Our identity has increasingly become associated with what we own and the emotional investment we have in them. If 90% of a growing population needs storage space, you can understand why the sharing economy is thriving.  Danny Dorling, professor of geography at Oxford University, says we have six times more "stuff" than the generation before us.
  3. We know that warehouses are expensive to rent and ugly to look at. Commercial storage uses up valuable land, in prime areas of overcrowded cities, like New York and London. 66% of people surveyed stated that they became aware of self storage facilities because they were ‘directly visible’ - it’s not easy to ignore bright yellow!
  4. Commercial storage units could be used to ease the growing housing problem.  Who knew? In the City of London alone, where the population is 8.3 million, and real estate is of prime value - 8,590,000 sq ft is taken up by commercial storage units.
  5. Did you know that 18-34 year olds are most likely to put their stuff in storage during those important life moments.  This includes storing stuff during University holidays, travelling, moving home or working abroad.  This not only costs a bomb but also means that their limited budget is hugely affected.

Click on the link below to read the article in full.

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Patrick Pellens

Author: Patrick Pellens

I started in the insurance industry in 2003 specialising in Personal Insurances such as Motor Bike, Car and Home Insurance.