Rabbit-hutch syndrome has been a boon for Safestore since its creation in 1998. The reduction in new home sizes, fragmentation of households and the sheer accumulation of stuff has created huge demand for self-storage space (Patrick Hosking writes).
Safestore, with its 170 centres, mostly in the UK but with a presence in France, Spain and Belgium, has harnessed that demand, turning it into a £1.6 billion FTSE 250 company with a strong shareholder following.
Interim results yesterday demonstrated its appeal. The six months to April, which included weeks of lockdown, proved resilient. Like-for-like revenues grew 5.9 per cent. Underlying occupation was up by 3.7 per cent. The company was also able to raise prices modestly.
The pace of customers taking space and customers vacating
