Self storage to continue to boom says experts

Corporate finance professionals joined together at The Belfry last Thursday, to play the world famous PGA National golf course and hear more from self storage experts Kuboid.

With more than 60,000 self storage facilities around the world, experts at Kuboid say this underrated real estate asset will continue to boom.

The UK market has grown at an average rate of 10% per year and 2022 saw the annual consolidated turnover reach a record-breaking £930m.

Attendees heard how despite economic pressures, the UK market is expected to exceed £1bn annual turnover this year, driven by the housing crisis and consumerism.

The resilient sector has seen fresh demand from businesses taking operations online as a result of the pandemic as well as employees needing to create space at home to be able to work remotely.

Kuboid says that in the US, there are estimated to be around 51,200 self storage facilities, which is more than all the McDonalds, Subway and Starbucks operations combined. This mature market reveals the limitless potential for growth in the UK.

Andy O’Dell, Chief Executive Officer of Kuboid said: “It was a very positive day and a pleasure to host. Overall, there was a good turnout of impressive individuals who were keen to learn about the self storage sector. Thank you to The Business Desk for helping us deliver the day.”

Winning team

A big thank you for everyone for joining us and congratulations to our winners.

Winning team: Andrew Bostock, Birmingham office senior partner, KPMG
Steve Harcourt, regional managing partner, Assets
Robert Newman, corporate partner, DLA Piper
David Ford, director, Gleeds

Rees Herrod

Longest drive: Rees Herrod, senior associate, Wright Hassall

Callum Shields

Closest pin: Callum Shields, associate director, corporate finance, KPMG