Safestore reports an uptick in demand for space as housing activity picks up

SAFESTORE, the UK&rsquo;s biggest self storage company, yesterday gave fresh signals of increased housing market activity, reporting a recent uptick in the levels of enquiries and demand for space in the three months to July.<br /><br />The group, which has 94 sites in the UK, yesterday said that the rise in interest had resulted in occupancy growth in the quarter of 122,260 square feet compared to 43,757 square feet for the same period last year.<br /><br />The group said that revenue for the nine months to 31 July had increased by 1.7 per cent compared to the same period last year.<br /><br />It also said its average rental rate for the period increased by 3.5 per cent to &pound;25.09 , compared to &pound;23.81 for the same period last year.<br /><br />Chief executive Steven Williams said: &ldquo;The economic environment remains challenging for the sector, but we believe Safestore is well set to take advantage of any increase in the levels of activity.&rdquo;<br /><br />Williams yesterday said the Board believes the group was well positioned and on course to meet expectations for the full year.