How Much Are Self Storage Prices in 2023?
In 2023, the average storage costs in the UK are £27.19 per square foot according to SSA’s (Self Storage Association) UK annual industry report.
Self storage prices will vary and depend on the unit’s location, size of storage, length of time and the value of items you’re storing.
In this article, we share the average costs of storage across the UK, how your quote is determined and those additional costs to watch out for.
- Storage Costs by Regions
- What Factors Determine Self Storage Prices?
- Are Larger Storage Units More Expensive Than Smaller Ones?
- What's Included in the Storage Price?
- Additional Self Storage Costs
- Is it Worth Paying Extra for Secure Storage?
- Is There a Minimum Rental Period?
- Other Types of Storage
- Compare Self Storage Quotes
In the UK, average storage costs are £27.19 per square foot for 2023.
Storage companies offer competitive prices so it's always worth shopping around to see what each company can offer.
Before committing to a company, it’s also important that they can meet your requirements such as onsite parking or covered loading bays.
To get the best deal, it’s important to compare storage quotes online with Compare My Move, saving you time, money and stress on all your storage needs.
Storage Costs by Regions
Self storage prices will vary by region. London has the most expensive rental prices, costing £39.26 per square foot, whilst the East Midlands offers the lowest rate at £19.16.
Areas like the West Midlands & Wales offer more affordable storage prices averaging at £19.62 per square foot, while the East of England has the second most expensive rental rate at £29.99.
| Region | Average Cost Per Sq.ft |
|---|---|
Scotland | £24.41 |
North England | £20.87 |
Yorkshire & The Humber | £22.53 |
East Midlands | £19.16 |
East of England | £29.99 |
London | £39.26 |
West Midlands & Wales | £19.62 |
South East | £28.07 |
South West | £21.95 |
Data taken from the SSA UK’s Annual Industry Report 2023. Please note these are just averages and your storage costs will vary depending on location, size of storage, insurance and other factors.
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What Factors Determine Self Storage Prices?
The total cost of your storage will depend on certain factors such as size and location.
Below we explore what determines self storage quotes.
1. Storage unit price per sq. ft.
The storage industry offers a range of size options for your storage, from single items and locker-type storage to larger options and warehouse storage. Typically, storage companies will charge less per square foot as the units go up in size.
2. Location of storage unit
Like most services, location plays a big part in storage prices. Typically, the closer the storage unit is to the city centre, the more expensive it will be. If you’re looking for storage in London or the surrounding areas, then you can expect higher prices. The West Midlands and Wales are the cheapest regions to rent storage.
3. Length of rental
Your total storage costs will also depend on the length of your stay with the storage unit. Lots of companies advertise introductory offers to help with self-storage prices. These discounts are typically 50% off your first 8 weeks, making this an ideal price if you’re looking for short-term storage.
SSA data shows that 20% of domestic storage users had their storage unit for 5 over years. Many storage providers also offer discounts for long-term storage plans, so it’s worth comparing storage providers to find the best deals.
4. Insurance for your items
Most storage companies will make it compulsory to take out insurance for your items, either organising it for you or you have the option to sort your own. Your total cost of storage will also depend on the replacement value of your items, so if you have any valuable goods, expect to pay a bit more.
5. Level of security
Different providers will offer different levels of security. Most storage facilities have efficient lighting to make you feel at ease when visiting your storage.
Usually, CCTV is included in the price as basic security, but you should ask what type of surveillance is on offer. For an additional cost, some may provide password-protected access where you have your own unique code. It should be noted that you’ll have to buy your own padlock and insurance.
Are Larger Storage Units More Expensive Than Smaller Ones?
Most storage facilities will offer discounts per square foot. This means that the larger the unit, the cost per square foot will be cheaper than a smaller storage unit.
It's important to get the right size unit for your items and not just a larger storage unit to qualify for discounts. Certain items will require specific conditions to keep your items protected from damage.
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What's Included in the Storage Price?
All storage companies will offer different security levels and facilities, sometimes included in your quote and sometimes as add-ons, so it’s important to find this out from your storage provider before committing.
The price of self storage includes the following normally:
- 24/7 access to your belongings
- CCTV
- Efficient lighting
- Staff to help with deliveries
- Covered loading bays
- Use of trolleys
- Use of forklifts
- Free parking
Additional Self Storage Costs
It’s important to factor in any additional costs you may pay for your storage. These may not be clear upfront so it’s vital you confirm with your provider what is included.
1. Rental Deposit
Some storage providers ask that you pay a rental deposit to reserve your unit which will normally depend on the size of storage. Not all providers ask this, but some ask you to pay the first month in advance.
2. Transporting Items
It’s important to be aware that most storage providers will charge if you require your items transported from your property to the unit and won’t include this in your price. We also partner with removal companies that offer both removals and storage services.
3. Insurance
Not all home insurances will cover your storage items, so most storage companies recommend you take out insurance for your goods. For your own peace of mind, know that insuring your items will give them added protection.
4. Padlocks
Padlocks for your storage aren’t typically included in the price, but most providers can supply this for you. They usually cost around £12-£14. You may be able to use your own locks if they are compatible with the unit.
5. Packing
Most providers will offer packaging supplies to help you pack your belongings for storage. This isn’t an essential service, but being provided with packing boxes and bubble wrap can be helpful if you don’t have the time.
6. Admin Fee
Ask the company if they charge admin or registration fees. Most companies just charge a refundable deposit which you often get back after the storage period is up.
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Is it Worth Paying Extra for Secure Storage?
It’s worth paying to store your items in secure storage facilities for peace of mind. They have state-of-the-art security systems and measures in place to ensure the protection of your personal belongings.
Unless you have these security measures in place at your home, it’s often safer to store your personal belongings in storage facilities.
Is There a Minimum Rental Period?
Different storage providers will have different minimum rental periods. Big Yellow Self Storage have a minimum rental period of 7 days. This means that even if you want to store items for a day or two, you’d have to pay for the 7-day period.
Other Types of Storage
There are other self storage options to suit a range of items and needs. If you’re unsure what storage type you need, we’ve listed the most common types of self storage below and what they’re suitable for.
1. Container storage
Container storage units are made up of large metal containers and are typically found outdoors. They’re ideal for storing larger items such as cars, garden equipment/furniture and machinery. Your items in container storage could be affected by extreme weather conditions, so this type of storage is not suitable for fragile or valuable items.
2. Storage lockups
Storage lockups are garage-sized storage facilities that are usually located in residential areas. They’re ideal for storing smaller and less valuable items as there is a minimal level of security. Some companies might offer extra security options, so it’s worth finding this out prior to hiring the lockup.
3. Collection and box storage
Collection and box storage is a service many companies offer where they’ll provide you with the boxes, pack your items and then transport them to the units for you. Your items can also be returned to you when requested for an added fee. This storage type is ideal if you don’t need regular access to your items.
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