U.K.'s Safestore Reports Third-Quarter 2009 Operating Results

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Safestore Holdings plc, a self-storage retailer in the United Kingdom and Paris, reported its third-quarter trading for the period ending July 31.

Key metrics, including revenue, occupancy and average rental rates, showed strong performance over the same period in 2008.  

  • Revenue increased by 1.7 percent
  • Occupancy growth was 110,554 square feet compared to a loss of 29,344 square feet for the same period last year
  • Average rental rate increased by 5.3 percent to £25.08
  • Closing occupancy was 2,826,239 square feet

The company also reported an increase in inquiries and fewer move-outs, particularly in July.  

Safestore opened four new stores this year, including two during the third quarter. The company plans to open one more store this year, and expand six more in the next two years.

Safestore Holdings is the United Kingdom’s largest self-storage group with 94 stores throughout the United Kingdom, including 42 within the M25. In addition, it is the largest operator in central Paris with 22 stores. For the full report, visit www.safestore.com/images/20090901-142554.pdf 

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