Self storage boss comments on reports of surging demand and prices in the sector

A new report from the Self Storage Association reveals that that prices have risen to meet demand, however a leading supplier believes that the right thing for suppliers to do at this time would be to hold prices where possible.

Space Station CEO, Kevin Prince, said:

“Despite the challenges of the pandemic, there have certainly been reasons to be optimistic within the self-storage sector. There is no doubt that demand for storage units for either personal or business purposes has increased significantly.

“Coinciding with the start of lockdown and many businesses and services moving online, we saw a 24% increase in enquiries for the opening quarter of this year compared to 2020, and demand has grown to the point where we opened a new store in Solihull in August last year, which we have since expanded again.

“Whilst a report from the Self-Storage Association highlights a notable increase in prices for space rental to meet growing demand, we put all price reviews – which would have been due to take place at various points in 2020 – on hold so as not to impact customers during lockdown.

“With many businesses making shifts to online working permanent and many Brits looking to move house to take advantage of the stamp duty holiday, we’re happy to accommodate people’s storage needs, with growing both the number of units within existing facilities and new stores to meet this surge in demand.”

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