A report by commercial real estate firm Cushman & Wakefield and the Self Storage Association of the United Kingdom (SSA-UK) reveals there was a record demand for storage facilities in 2024.
The annual income of the UK self-storage industry was £1.2 billion in 2024, an increase of over £100 million compared to the previous year. There is over 64.3 million square feet of storage space in the UK.
Around 73% of space is used by private individuals with 40% of customers needing storage space when they move home. SSA-UK CEO Rennie Schafer says that storage is being used for a variety of reasons, including storing Christmas presents, creating space in the home when a new family member is born and storing out-of-season or holiday clothes.
There is a growing number of households that are extending and renovating their homes rather than moving, especially in areas where house prices have risen. This has led to a high demand for furniture and belongings to be stored until the work is completed.
The report notes that the UK has the largest self-storage market in Europe. Britain now has 257% more storage space than 20 years ago. The construction of new storage facilities accounts for the fastest expansion in commercial real estate for any industry sector. Furthermore, global developers are increasingly investing in the UK self-storage market.
For storage in the Liverpool area, you can trust Merseyside Movers & Storers to safely and securely store your possessions. We also provide storage services for business customers.
