The survey was produced with input from operators to help quantify the size and drivers of the industry across Europe. We hope it will be a useful reference point for investors and operators in this growing and dynamic market.
We received responses from over 100 operators representing 900+ facilities in 18 countries, which covers almost a third of the total market. The survey does not include the industries in the United Kingdom, but responses to the Self Storage Association UK’s (SSA UK) 2021 Annual Survey have been added to this report where appropriate.
Responses to most questions in the survey relate to the facility position as at 31 March 2021.
- In 2021 we estimate there are now 5,173 self storage facilities offering 11m square metres of space in Europe
- The top ten operators in Europe represent 18% of the number of facilities and 37% of the total available space
- 78% of facilities in Europe are located in the six most mature countries
- The average rent in Europe is €268.74 per square metre per annum, a 7% increase from last year’s results
- The average occupancy in Europe increased to 81.5% from 79.8%
- Nearly half of the facilities in our dataset had occupancy levels of over 85%
- Rental rates outstanding for more than 30 days fell from 8.7% in 2020 to only 3.7% despite the impact of the pandemic
- Operators remain optimistic in their outlook, with 86% of those surveyed expecting improved profit expectations over the next year and 72% expecting improved occupancy rates
- There are 104 facilities under construction, 53 in the planning process stage and 90 speculative within the survey sample
- Staff numbers per facility continue to fall. There are now an average of 1.34 full time staff per facility compared to 1.77 in 2015. 7% of facilities in our dataset are now fully unmanned
Historical copies of the report can be found using the links below:
Read how the European Self Storage industry performed in 2019 with data on growth of the industry, occupancy, returns and much more.
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