Tap into £1.1bn self-storage sector with flat-pack system
Steel manufacturer Penn Elcom has launched the UK’s first flat-pack self-storage system to allow smaller businesses and owners gain access to the circa £1.1bn sector.
Penn Elcom has developed the DIY range to give the user flexibility to create self-storage spaces of any size, in locations that have no pre-existing capabilities.
The manufacturer said the self-assembly system, called the 3S range, is more than 30% cheaper than pre-made or established units. It also allows the installer to put up units with minimal tools.
Steel manufacturer Penn Elcom has launched the UK’s first flat-pack self-storage system to allow smaller businesses and owners gain access to the circa £1.1bn sector.
Penn Elcom has developed the DIY range to give the user flexibility to create self-storage spaces of any size, in locations that have no pre-existing capabilities.
The manufacturer said the self-assembly system, called the 3S range, is more than 30% cheaper than pre-made or established units. It also allows the installer to put up units with minimal tools.
New findings obtained by Penn Elcom from the Self-Storage Association showed that the UK self-storage sector continues to rocket as demand increases year-on-year.
Turnover for the industry reached nearly £1.1bn for 2023, up 23% from £890m in 2021. The number of self-storage stores grew by 35% in the UK to 2,706 stores during the three-year period.
At least 280 more stores are planned between now and 2026, representing more than 10% growth.
The manufacturer said the sector is expected to remain among the most “sought-after” asset classes, “underpinned by a defensive income stream, efficient cost base, and a widening customer appeal from consumers, businesses, and students”.
It added that Britons have packed away enough possessions to fill a building the size of Kensington Palace more than 70 times over.
Companies trialling the scheme include Hastings-based self-storage provider Offerfair, which ordered 220 3S self-storage units at a 22,000 sq ft facility for around £77,000. It was assembled by two people in just over four weeks last year. It is now generating £20,530 turnover from the units.
Penn Elcom chairman Roger Willems said: “Self-storage continues to demonstrate its operational resilience and attractiveness as a growth sector. This looks set to continue in 2024, underpinned by robust trading performance and heightened investor appetite.
“We designed the 3S Self-Storage System specifically to provide an economic and quick assembly solution for the UK’s growing self-storage industry. We are redefining the self-storage experience by allowing smaller businesses and individuals access to the market.”
Image © Penn Elcom
