There are several things that must be taken into consideration when looking around for a self-storage solution here in UK. Chief of which, are location, facilities, security, space, and ease of access.
However, for most of us, price is certainly the biggest factor when we’re looking to find a self-storage solution to fulfil our needs.
In this blog, we’ve highlighted the average cost of storage solutions throughout the UK, whilst highlighting what you need to keep in mind when selecting an option that fulfils your needs.
What Impacts Storage Costs?
Location
The location of any storage facility will reflect in the prices that you need to pay. For example, the proximity to a city centre will increase costs the closer the facility is to the centre. The same typically applies for regions of the country as a whole; the closer the storage is to the capital the more expensive it’s likely to be, whereas prices up North tend to be lower.
Size
The right storage solution for your needs may range from renting a small locker to something as large as an entire warehouse. Typically, while lockers tend to be rented at a flat fee, the cost of larger spaces are calculated by square foot.
Duration
Storage costs can depend largely on how long you intend to store your products at the facility for. For instance, many storage owners will introduce a special discount for new customers, which can save a good deal of money if you’re looking for short-term options.
Conversely, if you’re planning on staying for the long-term you may be able to negotiate an improved rate. Although, this is entirely down to the discretion of the owner of the storage facility, it’s always a good idea to ask though.
Value
Of course, it’s very unlikely that something would happen whilst your belongings are in secure storage, however, any reputable storage provider will need to take inventory of your products for insurance purposes or to ensure that your items are insured under your own policy.
In each case, the costs of insuring your belongings will depend largely on the items you’re looking to store and their replacement value.
Regional Self-Storage Costs in the UK
Image From SSA
The best way to find out how much a unit will set you back is to acquire a range of quotes from several different businesses in your area. You’ll need to let them know what you want to store and how big each item is – which customers can do via the Store Log Flog app – and they will be able to offer a quote based on those metrics.
Self-store costs, as per data from the latest Self Storage Association report will cost an average rental cost of £23.94 per square foot each year.
However, it is worth bearing in mind that prices will vary substantially depending on where you are in the country, and any VAT or insurance costs that you may incur thereafter.
Additional Costs You May Not Have Thought About
Any reputable self-storage business will never hit you with any hidden fees and your invoice should outline exactly what you’re paying for, to understand what costs are involved.
However, as well as the cost of the unit itself, there may be some external costs that apply to you and it’s worth outlining these before you take the plunge.
Insurance
As we mentioned already, you may need to have your items insured by a third-party or you may need to take out insurance with the self-store business itself – it’s certainly our recommendation that you take at least one of these options. The cost of your cover will reflect the amount it would cost to replace your items, should the unlikely occur. Prices can range from as little as a few pounds a week for a £1,000 of cover.
Deposits
At some self-store locations, it will not be necessary to reserve a unit by paying a deposit. However, in some of the busier areas of the country you could be asked to pay as much as four weeks in advance using a credit or debit card, so it’s certainly worth asking about this when you’re shopping around.
Moving
Most self-store businesses won’t offer their own collection or removal service. However, many do have close relationships with suppliers in the local area and would often be happy to recommend a solution for your needs.
Moving costs will depend largely on how much you need to move. If you are looking to move a few items, this isn’t usually going to be an issue. However, if you’re working on a house clearance of a deceased relative, for example, it’s wise to factor in the cost of moving items to the storage facility.
Takeaways
As we’ve explored in this blog, the cost of self-storage is largely dependent on two factors: how much you wish to store and where abouts in the country you reside.
As well as the obvious costs of renting the space, you’ll also need to consider other things such as the cost of removals, deposits, and insurance.
The Store Log Flog app is now available to download for free from Google Play or the Apple Store.
If you’d like a free, no-obligation or if you’d like to learn more about Store Log Flog, why not contact us today?
