The Self Storage Association of the United Kingdom (SSA-UK) released the results of its 2005 member survey, which included data from 89 companies, or 70 percent of its total membership. The association retained market-research company Mintel Consulting to analyze the information.
Survey results revealed that the U.K. storage industry continues to grow at an estimated 10 percent to 15 percent per year, and its size has nearly doubled in the past four years. The country is home to approximately 600 "significant" self-storage facilities totaling about 20 million rentable square feet. Other findings include:
- The industry generates revenue of approximately £310 million.
- U.K. self-storage serves more than 200,000 customers and employs more than 2,000 staff members.
- A typical U.K. facility has 510 units with an average size of 75 square feet.
- Almost 50 percent of the market is owned by the nine largest U.K. self-storage companies, predominantly in London and the Southeast.
- Approximately 70 percent of customers are private individuals, with businesses comprising the balance.
According to the association, the market remains "immature," and despite industry growth, public awareness remains significantly underdeveloped. It estimates that 15 percent to 20 percent of the London population is aware of the product, with much lower figures throughout the rest of the country.
To obtain a copy of the survey results, visit www.ssauk.com; call +44 (0) 1270 623150; or write to:
Self Storage Association
Cheshire CW5 5SZ