How Big Is the Self-Storage Industry in the UK?

Understanding the size and scope of a growing, under-penetrated market

The UK is home to Europe’s most mature self-storage industry, yet it remains significantly smaller — and less saturated — than its U.S. counterpart. While the number of facilities and total rentable space have grown steadily over the past decade, the market continues to offer expansion opportunities, particularly outside London and major metro areas.

This blog outlines the current size of the UK self-storage industry using key indicators: facility count, rentable space, usage per capita, and revenue estimates — all critical for operators, investors, and developers evaluating the market.

Market Size by the Numbers

Number of Facilities

As of 2025, the UK has approximately 5,100 self-storage facilities. This makes it the largest market in Europe by facility count — ahead of France and Germany — but still small relative to the U.S., which has over 67,000 facilities.

London and the South East account for roughly one-third of all facilities. However, regional markets like Manchester, Birmingham, and Glasgow are seeing increased development activity, with supply expanding beyond traditional urban hubs.

Net Rentable Area and Per Capita Usage

The total net rentable square footage (NRSF) in the UK is estimated at around 103 million sqft, or roughly 0.20 sqft/capita.

This underscores how much runway exists for UK expansion, particularly in secondary cities and commuter towns with growing populations and limited housing stock.

Rental Rates Trend

Prices have remained relatively stable, supported by strong demand drivers such as high housing costs, small living spaces, and e-commerce expansion. While competition remains high, investor interest continues, with major acquisitions and portfolio sales shaping market activity.

Industry Revenue and Growth Trajectory

Annual self-storage revenue in the UK now exceeds £990 million, with consistent growth in the 4–6% range over the past five years. Drivers include:

• Sustained urban demand
• Growing small-medium enterprise (SME) and e-commerce usage
• Rate stability among REIT-backed operators

The average rate per square foot ranges from £27 to £30/year, with London averaging higher. Promotional activity is less aggressive than in the U.S., allowing for steadier rent structures.

Occupancy and Supply Pipeline

Occupancy rates typically range between 82–88%, depending on location and operator scale. London submarkets and university towns tend to maintain higher occupancy due to space constraints and transient populations.

Meanwhile, pipeline data shows:

• New supply is entering markets like Bristol, Leeds, and Southampton
• Conversion projects (e.g., retail-to-storage) are increasing in dense areas
• Permitting activity is growing outside the capital, where zoning is less restrictive

Key Trends Shaping UK Growth

• Urbanization and density: Smaller living spaces continue to drive consumer need for off-site storage
• Digital adoption: Online rentals and dynamic pricing are becoming more common, especially among REITs
• Diversification: Business storage demand, particularly from micro-fulfillment and e-commerce firms, is rising
• Regional expansion: Underserved cities and suburban corridors now attract increased developer attention

FAQs

Is the UK market considered saturated?

No. Most UK cities remain well below the U.S. saturation threshold (7.8 sq ft/person). Some areas in Greater London are nearing maturity, but broader regional markets remain underdeveloped.

Who are the major players?

Safestore, Big Yellow, and Lok’nStore lead in scale and urban presence. Mid-sized operators and independents dominate suburban and regional markets.

TL;DR: How Big Is the UK Self-Storage Industry?

• • 5,100 facilities (largest in Europe)
  • 103 million sq ft of rentable space
  • 0.20 sq ft per capita
  • Strongest growth in urban markets

The UK market is structurally sound, underbuilt by global standards, and increasingly supported by data transparency and investor interest — a compelling formula for long-term opportunity.