UK Annual Industry Report 2024

The Self Storage Association UK Annual Industry Report 2024 includes data collected from industry operators, customers currently using self storage and the general public.

This is the 17th year the Self Storage Association UK (SSA UK) has been surveying its members and producing an annual industry report. The report covers all viewpoints of the industry, collecting data from operators, customers and the general public.

For the ninth year, the report has been produced in conjunction with Cushman & Wakefield. Their extensive experience in valuing self storage properties around the world, as well as knowledge of the broader property market has further added to the valuable information in this report. The economic overview provided by Cushman & Wakefield included in the report also gives context to the achievements of the industry.

Download a copy of the report here

Summary of key findings

Industry annual turnover £1,080,000,000
Occupancy rates down 2.5 percentage points to 77.5% overall and 79.5% for mature stores
Rental returns average £26.23 per sq up 1%
Industry churn rate is 98%, up from 81% last year
8.1% increase in storage space in the year
37% of stores are container based
UK storage space per head of population has increased to 0.89 sq ft up from 0.82 sq ft
60 million sq ft of self storage space in the UK in 2023
Conversion rate increased to 24%
13% of stores did not have a staff member permanently on site
25% of businesses are actively using AI
Only 4% of customers are not happy with their self storage solution