Here’s a news story that might make prospective and current investors in Big Yellow Group PLC (LSE:BYG) and Safestore Holdings PLC (LSE:SAFE) sit up and take note.
According to the Guardian, the housing crisis is powering a £1bn storage boom.
The paper said: “Self-storage units are proving cheaper than renting or buying a bigger home and are springing up alongside new housing developments across the UK, with at least 280 more stores planned between now and 2026 – a more than 10% increase.”
Has the market tapped into this trend? Based on the share price movement of the two listed self-storage businesses listed in the introduction, the answer would seem to be a resounding ‘no’. Big Yellow and Safestore are flat in the year-to-date.