Joe Freedman, head of origination at real estate finance company ASK Partners, says that self-storage facilities have experienced the quickest growth in the UK property market in two decades.
He states that one of the main reasons for this is the rise of compact housing, which often lacks sufficient storage space.
Property developers are exploring investment opportunities generating rental income at a faster rate, such as student housing, co-living and build-to-rent residences. These often have small living spaces with limited storage options.
According to the English Housing Survey data, the average floor space per person in housing was 61 square metres in 2022, but in rented accommodation, this figure drops to an average of 28 square metres. The increase in the total number of renters of compact spaces has prompted many property investors to see a demand for more storage facilities that enable renters to store possessions that cannot fit within their limited living space.
Joe Freedman predicts that the UK storage sector will continue to expand, although challenges such as obtaining planning permission and rising costs remain significant. He says that storage companies are adaptable and resilient and will continue to increase their storage facilities as
“The need for flexible, accessible storage will only grow, creating a maturing, competitive, and highly investable market.”
Whatever your reason for needing storage in the Liverpool area, contact us at Merseyside Movers & Storers to arrange for us to pick up your items for safe and secure storage at our facilities.
