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Self Storage Confidence Survey

​​​​​​​​​​​​​​​​​​​​​The impact of Brexit on the Self storage market​​​​​​​​​

​Following the referendum announcement on Friday 24 June, we have carried out a confidence survey across the Self Storage sector in order to gauge the industry’s reaction to the Brexit vote. A survey was responded to by operators of 268 stores across the UK which represents over 20% of the market. 

The results, shown in the graphs below, are as follows: 

100% of those operators who had plans to develop new stores, expand current stores or acquire new businesses through mergers and acquisitions were confident that BREXIT would not change their plans, although a handful of operators expect a slight delay whilst the political uncertainty in the UK was resolved.

Most operators believe that there will no impact on rental growth or fill rates. 

Over 80% of the participants were confident that there would either be no impact or a slight increase in rents and fill rates moving forward. Only two operators felt that the current political uncertainty might require rents to be reduced for a short period in order to maintain fill rates, with pricing reverting shortly thereafter.

​Comments from operators included: 

"We are long term players and so there is no material change as there are still 65 million people here with a strong economy."

“If the residential land markets softens, we see this as an opportunity to acquire new sites at more realistic prices.” 

“Mortgage companies have not stopped lending.”

“Our sites are at maturity and due to the way we manage them we won’t see a huge impact on occupancy or yield.”​

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