Mayfair Capital Enters UK Self-Storage Market With Purchase of The Storage Team

U.K.-based Mayfair Capital Investment Management Ltd. has acquired The Storage Team (TST) in Northwest England. The transaction marks Mayfair’s entry into the self-storage sector. The transaction includes all TST branding, intellectual property and real estate as well as the formation of a joint venture to manage and scale the portfolio, according to a press release. TST operates self-storage in St. Helens, Widnes and Wigan, England. Subsequent to the sale, Mayfair acquired three more existing facilities and two conversion properties it intends to open next year. The additions will expand the…

Self-Storage Company Opens New Branch In Shrewsbury

Self-storage company, Space Station, has announced the newest expansion to its UK operations with the opening of a new facility in Shrewsbury. Up to 750 individual storage units are available to rent. The new store boasts a sizable 57,000 square feet of storage space available for local customers and businesses, which includes up to 750 individual storage units to rent, providing a boost to the accessibility of externally sourced storage in the local Shropshire community. After purchasing from fellow storage company, Rent a Space, Space Station officially opened its doors…

Budgeting For The Big Stuff: How To Reserve Funds For Your Self-Storage Capital Expenditures

If an expensive component of your self-storage facility breaks, like your HVAC unit, will you have the necessary funds for repair or replacement? Without dipping into your operating cash flow? You will if you have a plan for ongoing capital expenditures! Find out how to create a budget and build up a reserve. One of the most attractive features of owning a self-storage property is low ongoing capital expenditures (capex). Unlike with multi-family, office or even retail properties, there’s very little required to keep the operating cash flowing. But while…

StorTrack Releases ‘StorTrack Explorer’ to Offer Self Storage Professionals Free Access to Interactive Data Map for All Markets

StorTrack, the premier international self storage data company, recently launched ‘StorTrack Explorer’ which offers an interactive map, improved user search experience and new formatting for accessing primary, secondary and tertiary market analytics on over 58,000 existing facilities and nearly 2,000 development projects in the US, the UK and Canada. Self storage investors and developers can choose from free, basic or unlimited account options. Free accounts have access to StorTrack Explorer’s mapping tool and can view net rentable square footage, square feet per capita, existing facilities, population metrics, average rates per…

How Safe Are Your Access Control Solutions? Part One

Safety and security are hallmarks of today’s self storage industry. In competitive markets, solutions that protect tenants’ physical safety and the security of their possessions are differentiating factors — they separate market leaders from the rest of the pack. Increasingly, the quality of your operation’s safety and security solutions directly impacts tenant acquisition and retention. Yet it may be tempting for owners and operators to inadequately evaluate their choice in security solutions — a mistake that can have serious consequences for the bottom line of your business. If a single…

Storage Vault of Scotland to Accept Bitcoin for Self Storage Payments

Storage Vault Ltd. is now accepting Bitcoin as a form of payment from customers. The cryptocurrency will be acceptable in CoVault, the company’s flexible-workspace division, according to a press release. Storage Vault accepting Bitcoin as a payment option because of its benefits and to offer more payment choices for tenants. Company officials believe cryptocurrency will become more common in future. We are the first self storage and workspace business in the U.K. to accept Bitcoin.” Bitcoin was invented in 2008. It is not controlled by a bank or administrator. Rather,…

The Advantages of a Working with a Security Integrator

Modern self storage security encompasses an increasingly complex range of technology that deter crime while improving operators’ ability to monitor and respond to threats. As the demand for more comprehensive and complex systems grows, so does the importance of proper installation. While most have a low-voltage electrician they can call on, the operational advantages of establishing an ongoing relationship with a certified security integrator that specializes in self storage, is often overlooked. With the ability to coordinate, install and connect solutions, integrators play a crucial role in helping owners and…

Key Performance Indicators

While the self storage industry is growing, there is still room for facility owners to use data to improve facility performance. Before you can leverage your data, you need to know what it means and how to interpret it. Determining your Key Performance Indicators is your first step. Determining KPIs Looking at all your marketing data can be overwhelming and intimidating. Key Performance Indicators (KPIs) can help narrow your focus when looking at a large batch of data. These indicators can be anything from click-through rate to bounce rate. Looking…

Storable Wins Three ‘Best of Business’ Awards

Over the years, the businesses that formed Storable have learned the best way to innovate and constantly deliver the best products and services to the market. Every new product, every new capability and every investment seeks to fulfill the needs we hear from owners and operators like you. That is why these awards are more than bragging rights, they are validation from the market that Storable is listening and responding with products and services that do help self storage businesses grow. Storable won the following ISS Best of Business awards:…

Successful Site Selection with Comprehensive Self Storage Market Data

The UK self storage market consists of a broad demographic, from one and two-store owners to large, multi-site operators like Safestore, Big Yellow, Access, Lok’n Store, Shurgard, Space Maker, Storage King and HSIL Property. Their brands and locations are widely recognized while smaller players tend to be privately owned and operate on a small-scale basis as local companies. The pandemic proved self storage to be a recession-tolerant industry, observing average price increases of £10.13 year over year. Paired with the fact that the UK is still relatively underserved at less…