Self-storage giant Safestore has hailed “continued momentum” as the group reported increased revenue in a first-quarter trading update.
Group revenue for the period 1 November 2025 to 31 January 2026 increased 6.3% year on year (in constant exchange rate) from £56.7m to £61.2m.
The greater revenue comes on the back of three new store openings since the start of the financial year: one in Wembley, London, and two in Paris, adding 173,500 sq ft to the group’s lettable portfolio.
Safestore aims to open five more stores before the end of the financial year.
Like-for-like closing occupancy was reported at 77.8%, up from the 76.8% reported in the first quarter of 2025.
Safestore chief executive Frederic Vecchioli said: “Safestore’s performance in Q1 2026 represents continued momentum from the strong results reported for FY 2025.
“We continued to deliver revenue growth across all markets through active management of both rate and occupancy in our mature and stabilising like-for-like estate, as well as contributions from our newly opened stores.
“New store openings remain on track, with the latest addition to our portfolio in the Paris region having opened in January 2026 and a further five stores expected to open before the end of FY 2026.”
At the start of the year, Safestore secured planning approval for a self-storage centre with workspace in Belvedere, south-east London.
Please visit:
Our Sponsor