Member Article

U Hold the Key expands self-storage sites following sustained surge in demand

Leading North East self-storage company U Hold The Key has experienced a surge in demand across its 11 sites in the region, recording a 25% increase in occupied stores compared to spring 2020, following the expansion of its network. The business, which has its headquarters in Sedgefield, County Durham, has pledged to invest in at least 160 additional units over the coming months to manage the sharp rise in enquiries and bookings.

U Hold The Key is the UK’s longest established multi-location container self-storage company and the market leader, and is a division of the Parsons Containers Group. The company currently has around 1,500 container stores, offering secure 24/7 access for customers, at locations throughout the North East, in Mainsforth (near Ferryhill), Bishop Auckland, Stockton-on-Tees, A19 (under the Tees flyover), on the A66 near Darlington, Middlesbrough (open 7:00am – 7:00pm), Sunderland, Birtley, Newcastle upon Tyne, Alnwick and at its newly opened Gateshead Metrocentre site. The business also operates from a 12th site in Grantham, Lincolnshire, and has plans to open at more UK locations in 2022 and 2023.

U Hold The Key currently has 1,288 stores occupied, compared to 1,000 in spring 2020, with many of its sites at full occupancy. All of the sites have been fully occupied for periods over the past year. Earlier this year, the firm also launched a franchise initiative, allowing businesses to operate the U Hold The Key brand around the UK.

U Hold The Key is experiencing a growth in demand due to the upsurge in business activity in the wake of the pandemic. The housing market also continues to be very active, resulting in a demand for convenient storage, while businesses are using self-storage as they revise their office needs in the post-pandemic world. Generally, the increasing awareness of self-storage is pushing demand.

Responding to the high demand for storage, U Hold The Key has begun adding more storage containers in a range of sizes across five of its regional sites. The company’s newest site at Gateshead Metrocentre, which opened in August, will undergo the first stage of its planned development with a minimum of 50 containers being added, while the Alnwick site will be expanded with 50 extra stores. In the south of the region, the Darlington A66 site will see the addition of up to 30 new stores and the same quantity will be added to the Stockton A19 and Mainsforth sites. U Hold The Key is also set to replace around 50 older storage units with new models across all of its sites.

Ean Parsons, CEO of the Parsons Containers Group, comments: “We have continued to experience increased demand for self-storage and high occupancy rates across all of our facilities during 2021. This upward trend is showing no sign of slowing as people readjust to the world reopening in the wake of the pandemic, reassessing their homes and business premises and making changes accordingly. As a business, we continue to strategically plan ahead so that we can ensure we’re well placed to meet customer demand and we have a robust supply chain that allows us to acquire high quality new shipping containers. The investment in some 160 stores across a wide choice of sizes will ensure we have the capacity to meet the current and future needs of our growing customer base.”

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