Red Cube Storage - The Growing Demand And Needs For Storage Space
Added: (Mon May 06 2019)
Pressbox (Press Release) -
Birmingham - Mature markets of self-storage supply in the U.K., U.S., and Australia have yet to reach saturation levels. That continues to be a primary factor in the continued growth and demand in the market. Rental rates across self-storage facilities are also healthy, which has led to the conversion of many underutilised properties into self-storage spaces. Red Cube Storage offers insight into the growing demand and needs for storage space.
The need for self-storage spaces is growing at a fast rate. It’s particularly popular in larger cities all across the United Kingdom, where home prices have reached a premium. As real estate property values grow, for instance, so do the demand for low-cost storage. Existing numbers reflect that trend, with about occupancy levels for self-storage spaces rising by 3 per cent in 2017. Reports also show that 68 per cent of customers travel no more than 20 minutes or even less to access their storage unit. That’s true for a lot of customers for storage space in Birmingham and other parts of the country.
Growing market share
Of the European self-storage market, the UK holds about 48 per cent of the market share. That’s understandable, though, when viewed in context—that is, given the size of the United Kingdom in relation to the rest of the region. The numbers aren’t expected to drop any time soon, with online deliveries also contributing to the demand. As more people look for ways to house their belongings and online deliveries, more and more consumers are turning to self-storage facilities.
Investment opportunities
Growth in e-commerce has given rise to online shopping, making it easier for consumers to shop around. Those with micro-apartments or who have limited living space are using self-storage spaces as these provide an inexpensive way to keep their possessions. This has easily led to a boom in self-storage construction, as some investors see promising growth in the sector, with many landlords well able to achieve strong margins. That’s not a hardship when self-storage facilities and space in Birmingham are reported to be inexpensive to build as well as maintain.
Population growth
This remains a significant driver for self-storage demand. The growing need for storage in Birmingham and other parts of the country speak of the growing population. This influences the demand for apartment rentals, and in turn, an additional space, a need addressed by storage spaces.
Meeting the demand
As market growth for storage space continues to rise, companies like the Red Cube Storage offer flexible and affordable storage solutions to meet those demands. With choices that suit residential and commercial use, the firm provides many consumers with a way to combat rising home costs, especially premium properties, while providing them with the storage space they need.
For more information about Red Cube Storage, you can visit their website http://redcubestorage.co.uk/.