Self-storage may be posed to weather market volatility caused by COVID-19 better than other industries, according to a new study published by Cushman & Wakefield and the Self Storage Association UK (SSA UK).
The public survey was conducted online by YouGov on behalf of the SSA UK. Between Jan. 20 and Jan. 21, 31 self-storage companies across the United Kingdom participated in the survey, accounting for a total of 2,126 people.
The findings reveal that, although occupancy levels for the industry dropped for the first time this decade in 2019, this was largely due to significant growth in the supply of new stores, as many have not yet reached full occupancy. In addition, occupancy levels still remain above those from 2017.
The report notes that, despite expectations that development will slow post COVID-19 due to less favorable economic conditions, there is still a lot of supply in the pipeline that will open in 2020–2021. Development opportunities may also
