The 2021 Federation of European Self Storage Associations (FEDESSA) Report has been released, providing data and insight into the growth of the self storage sector and its performance, plus examining some of the key future trends that are emerging.
This is the tenth annual survey carried out by FEDESSA and JLL Industry amongst its member associations and their member operators and it outlines how successfully the self-storage industry performed despite the COVID-19 pandemic.
Key findings include:
• There are now 5,173 self storage facilities offering 11m square metres of space in Europe
• The top ten operators in Europe represent 18% of the number of facilities and 37% of the total available space
• 78% of facilities in Europe are located in the six most mature countries
• The average rent in Europe is €268.74 per square metre per annum, a 7% increase from last year’s results
• The average occupancy in Europe increased to 81.5% from 79.8%
• Nearly half of the facilities in our dataset had occupancy levels of over 85%
• Rental rates outstanding for more than 30 days fell from 8.7% in 2020 to only 3.7% despite the impact of the pandemic
• Operators remain optimistic in their outlook, with 86% of those surveyed expecting improved profit expectations over the next year and 72% expecting improved occupancy rates
• Staff numbers per facility continue to fall. There are now an average of 1.34 full time staff per facility compared to 1.77 in 2015. 7% of facilities in our dataset are now fully unmanned
Rooks Rider Solicitors are members of SSA UK and SSA Asia, and also sponsor of the 2021 FEDESSA Award for the business with the leading charity initiative focusing on funds raised, services offered, local promotion and synergies between the charity and the self-storage business.
Our experts regularly deal with legal issues related to self storage in the UK, delivering results for our clients in this highly competitive environment through our in-depth knowledge of the sector. For more information about how Rooks Rider Solicitors can help you and your self storage business, please contact Rooks Rider partner, James John.