Safestore Holdings & UK Self Storage
Former Operations Director at Safestore Holdings
inpractise.com/articles/safestore-holdings-and-uk-self-storage
Safestore Holdings PLC
Why is this company interesting?
Safestore Holdings (SAFE) is the leading self storage business that operates 130 in the UK, 27 in Paris and 3 in Spain and competes with companies such as Big Yellow (BYG) and Lok’nStore (LOK). The UK has 0.7 square feet of self storage per capita compared to nearly 10 square foot in the US and only 0.2 throughout Europe. There are over 2,500 stores in the UK including ~500 which are cheaper, container stores.
Over the last 7 years, the average rate per square foot has consistently grown 2% per year and the occupancy is up from ~60% to 80% today. SAFE freehold properties earn a 6-7% exit cap rate relative to the 4% average cap rate in London.
SAFE has been a 10-bagger in the last 10 years and has over 60 stores in the pipeline to fuel future growth across Europe.
Safestore Holdings & UK Self Storage(September 23, 2021)
Dave Davies
Former Operations Director at Safestore Holdings
Dave is an experienced self storage executive and was a member of Safestore’s management buy out nearly 20 years ago. He started a career in retail, managing stores for Wickes, a home improvement retail chain, and Pet City, a UK-based pet retail company, before joining Safestore in 2000. Dave was instrumental in buying, operating, and growing the store base across the UK and opening stores in Paris. He currently consults container storage companies in the UK.
Interview Transcript
This is a snippet of the transcript, sign up to read more.
Copyright Notice
This document may not be reproduced, distributed, or transmitted in any form or by any means including resale of any part, unauthorised distribution to a third party or other electronic methods, without the prior written permission of IP 1 Ltd.
IP 1 Ltd, trading as In Practise (herein referred to as "IP") is a company registered in England and Wales and is not a registered investment advisor or broker-dealer, and is not licensed nor qualified to provide investment advice.
In Practise reserves all copyright, intellectual and other property rights in the Content. The information published in this transcript (“Content”) is for information purposes only and should not be used as the sole basis for making any investment decision. Information provided by IP is to be used as an educational tool and nothing in this Content shall be construed as an offer, recommendation or solicitation regarding any financial product, service or management of investments or securities. The views of the executive expressed in the Content are those of the expert and they are not endorsed by, nor do they represent the opinion of In Practise. In Practise makes no representations and accepts no liability for the Content or for any errors, omissions, or inaccuracies will in no way be held liable for any potential or actual violations of laws, including without limitation any securities laws, based on Information sent to you by In Practise.
© 2023 IP 1 Ltd. All rights reserved.