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Key Trends from the UK’s Self Storage Industry’s Annual Report
Although the UK’s self-storage industry has had to cope with a number of challenges in the past year, the overall picture is still a healthy one; it’s now officially a £1billion business which continues to adapt and grow throughout the country.
Here Hamiltons Removals, who offer secure self-storage in the heart of East Anglia, take a look at the annual report which has just been issued by the UK’s Self Storage Association.
The Overall Picture
The overall occupancy rate of all self-storage facilities is down 2.5 percentage points compared to last year. This may be down to high rate of inflation and a depressed housing market, both of which impact the demand for house moves – a key driver for any self-storage business. Commercial customers have also been finding it tough, not just with inflation, but also with high energy prices in their main premises, meaning they may have less cash to spare for any storage.
However, the self-storage sector now has a £1.08bn turnover across the UK (up from £990million in the previous 12 months) – and falling inflation (as well as predicted cuts in interest rates) should mean 2024 is an even better year for the industry.
The past 12 months has also seen an 8% increase in the total amount of storage space on offer; and there has also been a small but significant change in the customer base. Previously, domestic customers outnumbered commercial ones by almost three to one (73% to 27%), nowadays it’s nearer two to one (66% to 34%).
The Use of Technology
Self-storage companies are increasingly making use of the latest technology. This is not just in the booking process, with more of the admin completed online, but in the security systems as well. Although many businesses still have traditional forms of security such as keypads, locks, CCTV cameras and internal alarms, more and more facilities are using biometric identification as a form of security, as well as digital locks to help keep belongings safe and secure.
The report also notes that some companies are investigating drones and driverless cars as a method of getting the possessions (or stock) in or out of the storage unit autonomously.
The Main Reasons to Use Self Storage Remain the Same
For all the changing economic landscape, and the hi-tech advances, the main reasons for using self-storage remain the same. So many domestic self-storage customers have experienced a major life event such as a death in the family (so their items need to be stored somewhere) or an elderly relative moving back in (and so more space needs to be created). The report notes this accounted for 12% of the total percentage of users.
Other homeowners needed more space while they carried out a renovation project (24%). Moving house is still a key driver for the industry – either because the customer is between homes, or they have downsized and haven’t got enough space for everything (in total, 32% of those surveyed cited either of these two reasons).
Commercial users who responded to the survey often needed somewhere to put excess or seasonal stock, or to just create more space at work generally (13%). And sometimes the people use a storage facility for a mixture of both commercial and domestic reasons – a lot of people are still working from home after the coronavirus pandemic and so need more space to create a home office.
Safe ‘n’ Stored – Secure Self Storage in East Anglia from Hamiltons Removals
At Hamiltons Removals, whatever reason you need self-storage for, you are guaranteed a high-quality, purpose-built facility with a high level of security. We have two Safe ’n’ Stored sites at Harleston and Aldeby, both on the Norfolk/Suffolk border. Our Harleston facility offers self-storage rooms of varying sizes, while Aldeby has self-storage containers ranging from 5’ to 20’ in size, making it ideal for larger items and vehicles such as motorbikes and caravans. Both sites are protected by CCTV cameras.
Our Harleston site also sells a range of high-quality packing materials via our online shop. We would recommend these if you are moving house or using self-storage – we stock various specialist products such as sofa covers and wardrobe cartons. You can also buy packing paper in our online shop as well.
- The SSAUK annual report was completed by 72 different self-storage businesses, who own 688 storage facilities between them. It covers the 2023 calendar year, but all the data was collected between January and February 2024.
The public element of the survey was conducted by polling firm YouGov on behalf of the SSAUK. The information was collected on two days in January this year and more than 2,000 self-storage customers took part.
Three Key Reasons to Move Your Business to Essex
Essex is one of the best places in the UK to start a business – and that’s official. A survey by M & A Advisor put the county in the top 10 when it comes to encouraging start-ups, with only a few London boroughs and major cities such as Birmingham and Leeds ahead of them.
With more than 75,000 firms, employing more than 700,00 people, the county has always been a big draw for companies who want to be close to London, without paying the high prices that this often entails. Here Hamiltons Removals, who offer commercial removals to Essex, take a closer look at the advantages the county offers.
1. The Transport Links
The M25, the M11 and the A12 all run through the county, making it one of the best- connected counties in East Anglia (neither Norfolk nor Suffolk boast a motorway), particularly when it comes to London.
There’s the added bonus of Stansted Airport – London’s third largest after Heathrow and Gatwick. Stansted has flights to almost 200 destinations, both in the UK, Europe and further afield; and, in terms of cargo, it handles around a quarter of a million tonnes of goods every year.
Harwich International Port still has passenger ferries to the Hook of Holland, as well as freight-only services to Rotterdam Europort.
The county is also very well connected by rail, particularly to London; the Norwich main line takes in Colchester, Manningtree and Chelmsford en-route to London Liverpool Street, while branch lines go to various additional towns such as Braintree, Clacton and Walton on the Naze. The Thameside line takes in the southern part of the county, with stops at Basildon, Shoeburyness and Southend.
2. The Skills Base
The county has its own university – the main campus is at Wivenhoe Park, but there are also sites at Loughton, Southend and Colchester (pictured above). It’s ranked in the top 30 of all UK colleges and universities, and it has more than 17,000 students (graduate and postgraduate) at any one time; many of these stay on in the county at the end of their studies.
Essex University also has a noted Business School and has helped establish the Knowledge Gateway research and technology park at its Colchester campus.
The county is also home to a wide variety of big businesses. Although agriculture dominates in the north of the county, a report by Grant Thornton showed that a variety of firms, including car dealers, construction companies, haulage businesses and care home providers, were among Essex’s top 10 firms by turnover. Tourism and hospitality is also important for the county’s resorts such as Frinton, Clacton, Walton on the Naze and Southend.
All of these factors help create a flourishing and varied economy, with associated supply chains, and also a large and skilled labour market which employers can tap into.
3. The Back-Up for Businesses
There are a number of support services for companies looking to either move to the county, or to begin trading here. These include Backing Essex Business, which is fully funded by the county council and offers support for companies across the county. The Essex Chamber of Commerce offers more traditional training, events and networking opportunities; it has offices in Colchester (at the Knowledge Gateway), Southend and Harlow.
Essex County Council also offers a range of other support services for businesses throughout the county. These include:
- The BEST Growth Hub, which is administered by the council but funded by the Government; this offers free and impartial advice and support
- Visit Essex, which helps the tourism and hospitality sectors
- And The Green Entrepreneurs’ programme, which lays on virtual workshops for anyone with an environmentally friendly business idea.
Commercial Removals to Essex with Hamiltons Removals
If you are thinking of moving your business to Essex, then East Anglia removal company Hamiltons Removals can offer three decades’ worth of local expertise. Over the years, our commercial clients have been of all types and sizes, Our commercial moving service includes full packing and unpacking as well as dismantling and reassembling of all furniture, and we can also disconnect and reconnect all your computer and IT equipment for you.
To find out more about our commercial removals service, you can follow this link or email info@hamiltonsremovals.co.uk.
Image: UNIVERSITY OF ESSEX