Member Article

Self storage demand reflects improving North East economy

Leading North East self storage company U Hold The Key has reported a significant rise in demand for its container stores, reflecting an improving position in the wider economy. For the first time since January 2012, U Hold The Key is currently offering over 1,000 stores on its nine sites in this region and in Lincolnshire with 90% of them occupied, which is the highest rate in six years. The self storage industry is a good barometer for the health of the wider economy and the recent upsurge in business indicates greater confidence in the housing and professional trades sectors.

Before the recession, Sedgefield based U Hold The Key peaked at a high of nearly 1200 stores, but consolidated its activities from 2009 as the housing market slowed and small businesses were hit by the downturn. People moving home and small businesses and contractors are high users of this type of short term storage, and usage dipped. However, demand has recently started to pick up again and occupancy is now just below a record level, with nine out of 10 stores being in use.

U Hold The Key is one of three divisions of Parsons Containers, one of the UK’s leading shipping container and self storage businesses. Parsons was founded in 2000 and supplies products to industry and individuals across the UK, through the Parsons Containers brand, Container Container online sales, and U Hold The Key.

Ean Parsons, managing director of Parsons Containers, comments: “When the recession hit, we had to adjust our business strategy and focus on more container sales. However, the U Hold The Key team planned ahead and continued to invest in the business, replacing old containers, and improving the overall quality of the stores on our sites, as well as the range of sizes available.

“We’ve seen a marked increase in demand recently and that’s definitely a sign that aspects of the economy are picking up, such as the housing market. It certainly indicates improved confidence among small businesses in trades related to home improvement and building, which are now more prepared to invest in a stock of bulky items that they need to store ahead of anticipated work.”

As well as improving its stock of containers, U Hold The Key now offers 24/7 access to its nine secure sites in the North East and Lincolnshire and is a market leader in self storage prices. For more information about the company, visit www.uholdthekey.co.uk, email enquiries@uholdthekey.co.uk, call 0800 389 4319 or follow @UHoldTheKey_UK on Twitter.

This was posted in Bdaily's Members' News section by Chris Lines .