The U.K. self-storage industry is continuing to grow despite the economic difficulties, according to a Mintel report commissioned by the U.K.'s Self Storage Association.
The number of self-storage sites has grown by more than 10 percent in the last year to 750 primary facilities, generating revenues of around £360m.
The growth in the amount of rental space available in 2008 remained consistent with the previous five years at around 8 percent. However, the market has further to grow, according to the report, as the U.K. market is not as mature as it is in the United States or Australia.
Awareness of self-storage is increasing as well due to wider trends such as family break-ups and downsizing. Nearly 50 percent of the population is now aware of the industry, up from 29 percent two years ago, the report said.