As the costs associated with building a dedicated self-storage facility continue to rise, savvy investors are looking for opportunities to turn existing warehouses, retail units, factories and car parks into dedicated self-storage facilities.
The self-storage market is growing fast. Industry forecasters say it’s estimated to grow at a compound annual growth rate (CAGR) of 5.65% between now and 2027.
But research shows that people are increasingly keen to find and use local self-storage facilities. A recent report from the Self-Storage Association shows that 86% of people would prefer to travel less than 30 minutes to their self-storage facility.
Ground-up developments in or around densely populated areas tend to be relatively inexpensive. Land is expensive. Materials and labour are expensive, and there are many moving parts to wrestle down, including the intricate manoeuvring required to obtain planning permission and connect your new facility to municipal utilities.
Converting an existing asset does away with all of these problems and could save you considerable money. They’re US-based, but Inside Self Storage says that the typical costs of a conversion range from $15 - $20 (or £12 - £16) per square foot, while the cost of ground-up development is pegged at or around $40 (or £32) per square foot—a considerable saving by any measure.
Dedicated Self-Storage Conversion Service
But self-storage conversions can be equally complex and demanding in their own right. That’s why we offer a dedicated conversion service for any large or small self-storage provider operating in the UK and further afield.
This customisable service covers anything from layouts and designs to modifying your asset, installing custom-built self-storage units, adding a mezzanine floor to increase lettable floor space, or installing external direct access units or forklift enclosures to store the type of goods that would not go indoors. Our self-storage construction services also cover areas like fire protection and lift shafts.
We’ll also look after the fine detail, such as fitting new locks and kick plates, carrying out any safety checks and sweeping up after ourselves so that when we hand you the keys to your new self-storage facility, you can swing into action straight away.