The Real Story Behind Occupancy Rates

Goood Morniingggg Store Fam..A..Lam

Road trip today to see a couple of potential sites in the North East ….

Aggghh No industry news for you guys today … Sorry didn’t have the time, had to be on the road early

Right …. Lets dooo this ….

Here’s today’s newsletter …

• 5 Reservations

• 3 Move Ins

• 3 Move Outs

Lets … Do … This ….

Here's what's coming your way today 😎🎯

🤐 A Self Storage Tip - “Occupancy Rates“

🤝 3 Self Storage News Stories

🧐 Yesterday’s Figures For Each Facility

🥸 1 Meme of the Day

Self Storage Tip 💡 💰

If you’ve been following self storage trends, you’ll know the last few years have been a wild ride.

Let’s talk about what’s really happening now that the COVID “bump” is behind us—and why I think we’re in a great spot.

The Real Story Behind Occupancy Rates

From 2016 to 2018, UK self storage occupancy grew steadily—from 73.9% to 77.2%.

Then COVID hit, and we saw an unprecedented surge:

• 2021 peak: 83.3% occupancy!

But I’ve always said: what goes up fast, usually comes back down.

In fact, during those crazy COVID times, I made it clear in my newsletters—“Winter Is Coming”—and that those sky-high rates wouldn’t last forever. Ha you know me … I don’t like to blow my own trumpet haha 

Back to Normal (And That’s a Good Thing!)

Since the pandemic peak, things have settled:

• 2022: 80.0%

• 2023: 75.9%

• 2024: 75.1%

• 2025: 74.5% (across all stores)

What does this tell us?

We’re finding a new “normal”—right back to the mid-70s, just like the steady, healthy growth we saw before COVID.

Mature Stores Are Still Winning

Here’s the bit I love:

Mature stores (those with no expansion in the last 4 years) are actually holding strong at 79.6% occupancy—up from 79.0% last year.

For context, only my Willerby site is classed as mature, and we’re at a fantastic 84% occupancy!

This shows that established sites are performing really well, even as new supply enters the market and brings down the average. The gap between all-store and mature-store occupancy is just the “dilution effect” of new sites starting out with lower fill rates.

What’s the Takeaway?

• The COVID bump was never going to last forever (and I called it haha, that’s my last blowing of the trumpet, I promise ha!).
   

• “Normal” occupancy is healthy, sustainable, and right where we should be.
   

• Mature sites like ours are still thriving—even above industry averages.

So if you’re seeing your numbers return to pre-pandemic levels, don’t panic. This is the market finding its balance—and that’s a good thing for sustainability long-term growth.

Industry News 🧐 …

The Fun Bit - My Business .... Bare Butt Naked! 😲🤫🤭

Yesterday’s Results -

Willerby (Hull) … My Big Site

• 1 Reservations

• 1 Move Ins

• 1 Move Outs

Month to Date -

• PLUS 1,445 Sq Ft

Reservations so far this week = 4

Move Ins so far this week = 3

Clough Rd Figures ... The Automated Site

• 3 Reservations

• 0 Move Ins

• 0 Move outs

Month to Date -

• MINUS 70 Sq Ft

Reservations so far this week = 4

Move Ins so far this week = 2

Beverley … My Baby (First Site)

• 0 Reservation

• 0 Move Ins

• 0 Move Outs

Month to Date -

• PLUS 295 Sq Ft

Reservations so far this week = 2

Move Ins so far this week = 1

Wrexham's Figures (Indoor) ... My First Acquisition

• 1 Reservation

• 2 Move Ins

• 1 Move Outs

Month to Date -

• PLUS 100 Sq Ft

Reservations so far this week = 3

Move Ins so far this week = 3

Mansfield Figures

• 0 Reservation

• 0 Move Ins

• 1 Move Outs

Month to Date -

• PLUS 575 Sq Ft

Reservations so far this week = 3

Move Ins so far this week = 3

Glasgow

• 0 Reservation

• 0 Move Ins

• 0 Move Outs

Month to Date -

• PLUS 80 Sq Ft

Reservations so far this week = 1

Move Ins so far this week = 1

South Shields

• 0 Reservation

• 0 Move Ins

• 0 Move Outs

Month to Date -

• 0 Sq Ft

Reservations so far this week = 0

Move Ins so far this week = 0

Meme / GIF of the day -  👀😂

Health and Fitness ... Move More = Live Longer - 🏋️‍♀️ 🏃

Weekly goals -

• Gym - 3 times

• Run - 25miles

Results so far -

• Gym - 0

• Run - 18 Miles

Yesterday’s Steps - 20,272

Loads of self storage love,

Dean ❤️ 🙃