Commercial real estate firm Cushman & Wakefield and the Self Storage Association of the United Kingdom (SSA-UK) have released a 2025 report on the self-storage sector that reveals record-high industry growth. Collected in January in February, the data includes input from 70 facility operators representing 76 locations. More than 1,200 consumers from 19 self-storage companies were also surveyed, according to a press release.
The report revealed that annual turnover for the U.K. self-storage industry has grown to £1.2 billion a year, rising by more than £100 million over the previous 12 months. The nation now has more than 64.3 million square feet of self-storage, or 0.94 square feet per person, up from 0.89 in 2023. [return]
Of the total space, 73% is used by domestic customers, with 40% using storage when they move. The remaining renters are businesses, mostly smaller companies. A quarter of these operate solely from their unit, the release stated.
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“Self-storage provides the answer to an increasingly diverse range of challenges faced by consumers and businesses,” said SSA-UK CEO Rennie Schafer. “It is used for much more than just house moves, creating space in people’s lives for many personal challenges, from bringing a new family member into the home to storing Christmas presents during the holidays. As people become more familiar with self-storage, they see it as their room away from home to store whatever they need for the season, be it winter clothes or summer holiday gear.”
In percentage terms, self-storage in the U.K. experienced the fastest expansion of any real estate sector over the last 20 years, according to the report. Notable activity in 2024 included the entry of global developer and fund manager Hines into the European self-storage market when it acquired a three-property portfolio in England. Revenue for self-storage operators rose 6% annually to £29.13 per square foot, with the continued growth reflecting the industry’s resilience amid a turbulent macroeconomic climate, the release stated.
“The U.K. is the largest and most mature self-storage market in Europe, and its value is being recognized by an ever-widening pool of users. It accounts for 257% more space than it did 20 years ago, and the significant increase in revenue per square foot underlines the sector’s momentum and appeal with global investors,” said Steffan Morgan, a partner with Cushman & Wakefield’s Self Storage Advisory Group. “Domestic renovations, in particular, represent a growing source of demand. The use of self-storage for belongings during home redecoration has nearly doubled since 2014, providing an affordable alternative to relocating for those who wish to ‘improve, not move’ at a time when house prices are nearing record highs.”
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Established in 1995, the SSA-UK is the principal trade association representing self-storage operators and industry supplier members’ interests in the U.K. It has approximately 500 members.
Founded in 1917, Cushman & Wakefield offers multiple real estate services including acquisitions, appraisals, consulting, debt and equity financing, investment banking, leasing, sales and more. Headquartered in Chicago, it operates from 400 offices in 60 countries. In 2024, the firm reported revenue of $9.4 billion across its core service lines.
ISS Staff
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