Cuboid, a spin-out of leading property giant FI Real Estate Management (FIREM), has launched in 23 locations in its first year of trading, offering 150,000 sq ft of container storage space across the UK.
Cuboid launched in 2023, following an assessment of FIREM’s land holdings, which found a viable opportunity to offer communities with self-storage options, without the need to purchase further land.
The company has now set its sights on becoming the UK’s largest container-based self-storage provider with three more sites set to launch before the end of 2024.
FIREM has invested in 36-acres of space, allowing for at least 5,500 containers across the Cuboid portfolio over the next five years, projecting a portfolio value of £210m.
The impressive first year for Cuboid comes as the self-storage market continues to climb, with a report by the Self-Storage Association and Cushman & Wakefield revealing that the industry’s annual turnover had surpassed £1.08bn, with an 8.1% increase in available space over the last year.
Tim Knowles, Managing Director and founder of Chorley-headquartered FI Real Estate Management commented:
“In the last 12 months, we’ve completely disrupted the self-storage market. With over 900% growth, and a portfolio of over 150,000 sq ft, the Cuboid team are constantly innovating. We’re renting out containers on an hourly basis, up and down the country.
“Cuboid is a fantastic example of how the whole FIREM team has come together to deliver a vital product to the market, and we aren’t slowing down – we want to be the largest and most trusted container self-storage company in the UK, and we have plenty of plans to further diversify our portfolio.
“We have put our all into setting the path for our future over the next five years, with continued growth – we’ve got the land ready, and the ability to create space for at least a further 5,500 containers, so we’re set to overtake the rest of the container market and become the largest in the UK.”
A full list of Cuboid’s locations across the UK can be found here: https://cuboidselfstorage.com/our-locations/
