Parsons Containers Ltd., a U.K.-based provider of portable-storage containers that also operates self-storage facilities under the U Hold The Key brand, announced that occupancy across its self-storage sites is at 90 percent for the first time since January 2012. The company’s number of available storage units is back up to 1,000 after reducing the total from 1,200 to 970 during the recession, according to the company website.
The rise in self-storage demand is a good barometer for the health of the national economy, according to Ean Parsons, managing director for Parsons Containers. “We’ve seen a marked increase in demand recently, and that’s definitely a sign that aspects of the economy are picking up, such as the housing market,” he told the source. “It certainly indicates improved confidence among small businesses in trades related to home improvement and building, which are now more prepared to invest in a stock of bulky items that they need to store ahead of anticipated work.”
In February, Parsons Containers reported record growth in 2014, including a 43 percent increase in revenue. For the first time in the company’s history, container sales were led by orders from outside Parsons’ base region of Northeast England, and container rentals for self-storage doubled during the year.
“When the recession hit, we had to adjust our business strategy and focus on more container sales,” Parsons told the source. “However, the U Hold The Key team planned ahead and continued to invest in the business, replacing old containers and improving the overall quality of the [units] on our sites, as well as the range of sizes available.”
Founded in 2000, Parsons Containers is headquartered in Sedgefield, England. It operates nine U Hold The Key self-storage locations.
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