London is perhaps one of the most popular cities in the world. Non-UK residents dream of experiencing the life of a Londoner. Rich in culture and history, London is home to the iconic Big Ben clock tower, Westminster Abbey, and the London Eye. While it may all sound grand and posh to an onlooker, many Londoners are actually thinking of leaving the capital city altogether.
According to Research from the Royal Institute of British Architects (RIBA), many residents have expressed their dissatisfaction. The most common reason cited is their living conditions. Over 47% of the residents surveyed answered that they lived in such a small space that even their furniture couldn’t fit. 57% complained that there was no storage space for their items while 28% felt that they lived in such small quarters that they couldn’t get solitude.
The shortage in space is only natural as the population of London is continually increasing. World Population Review estimates that the population of Greater London has risen from 8,787,892 in 2016 to 9,304,016 this 2020.
London currently holds the record for having the most residents in the United Kingdom. The second, Birmingham, only holds 1.1 million. In the entire European continent, London is the third-largest city, only behind Istanbul (14.8 million) and Moscow (10.3 million).
These statistics only mean one thing: London is overpopulated. In compliance with the law of supply and demand, space becoming scarcer also meant rent prices going higher. The only financially logical option left for London’s residents, if they want to stay in London, is to move to smaller houses and apartments where the rent is cheaper. This process is called downsizing.
In 2020, the average rent for a One-bedroom flat in London ranges from £750 – 1000. For the majority of residents, this is a huge burden that they can’t shoulder alone, leaving them to find for roommates which they can share their place with. This means not only the absence of privacy but also an overall lack of space for their furniture and items.
The lack of, or complete absence of, storage space is a potential problem, as a crowded place can affect your overall mood and way of life. Thankfully, London residents found a solution: Self-storage.
Self Storage in London
A storage unit is meant to be an affordable storage solution. Self-storage facilities allow their users to store their items in a remote location to which they have unlimited access to. Storage units are convenient for professionals who only need the bare minimum items to go through their daily lives. On the weekends, they can relax and use the stuff they’ve stored in their storage facility. Excess furniture and appliances can also be kept in storage facilities for safekeeping. In essence, it’s like having an attic or a garage to keep your old books, used clothes, and personal stuff, but the catch is it’s in a different location from your house.
The main reason why London residents rent a storage unit is that they want to save up on rent. Accommodation in London is expensive. The solution? Downsize to a micro-flat or co-share and rent a storage unit in London for your items.
To sum it up, here are the four reasons why Londoners have started considering renting self storage:
Spacious Homes
You get to revel in a more spacious room. Excess furniture, stacks of books, boxes of old books can really occupy a lot of space, even a room or two. Limited space can take its toll on you. You will feel cramped and have a general sense of dissatisfaction going throughout your day. If you dread going home because of the lack of space, then you should definitely think about getting a storage unit.
Economically Logical
Think of it like this. Say you need 65 sq ft of space to live comfortably. A 65 sq ft apartment in London can cost anywhere from £1, 200 to £3, 000 per calendar month. This can be unaffordable to the majority.
What you can do is to get a 35 sq ft studio apartment for you to live in. On average, this costs around £850 – £1000. And then a 25 sq ft storage unit would suffice for your items. A 25 sq ft storage unit costs around £ 55-60 per calendar month.
Increased Safety & Security For Your Items
An overly cramped apartment filled to the brim with items is dangerous, not only for you but for your items as well. A simple misstep and something gets damaged, or worse, broken. Burglaries are also getting more and more common. These are some of the reason why it’s better to keep them off-site.
On the other hand, storage facility sites are equipped with CCTV cameras, security guards, electric fences, etc. You are assured that your items are in safe hands.
Convenience
One of the most common customers of storage units are people who are in the middle of moving. It is much more convenient to have a place to keep your items while you take care of all the things that need to be ironed out.
Factors that Affect Self Storage Prices in London
When you’re in the market and looking for the best storage unit, one of the most significant factors you need to consider is the price. You shouldn’t just go for the cheapest unit and expect quality. Join us, and let’s do a deep dive into what factors affect London’s self-storage prices.
We have dissected the multiple factors that affect self-storage prices to decide for yourself if your storage unit is worth it.
Location
Like real estate, the price of a storage unit is heavily reliant on the location of the storage facility. The closer you get to the centre of London, the steeper the price becomes.
London is already a pricey area so it would be best to choose a storage unit away from the city centre. However, before you get a storage facility outside of The Big Smoke, determine which items you’re going to store. If you don’t need them often, then you can even get a facility outside of London. You may also check out storage options in Brighton which is just close enough to London. However, if you’ll need constant access, then you want somewhere close and convenient for you.
Area Population
Be wise about where you want to get your storage facility in London. Basic economics states that the price increases when demand increases. Self storage facilities in an in-demand location, specifically the city centre or near residential areas, will be pricier.
Amenities and Features
Storage units come with multiple amenities and features that can enhance both the storage experience and the safety of your items. Some amenities include climate control, shelves, improved lighting, CCTV surveillance, Wi-Fi and collection service.
Storage facilities offer additional features to enhance your storage experience and ensure that your items are safe and secure. Customizing your storage units will come at a price, so select a storage facility with the amenities you need.
24/7 access
Residents in London can store even their daily essentials inside a storage unit. This means that they rent storage units close by, even for their clothes and equipment. For this reason, 24/7 access is essential. However, you should know that this will cost you a wee bit more money.
Storage Unit Size
Storage units come in different sizes. You can rent a storage locker to store small items that can’t fit inside your flat, or you can choose to get a warehouse as large as 200 x 200 square feet.
When deciding on the size of a storage unit, you need to list down all of the items that you want to store. Try to measure the large furnishings as well so you can get a more accurate number. Don’t forget to disassemble furniture. It will save you space and protect your furniture from getting damaged. The size of your storage unit will determine the price. You want to get something that is just the right size — not too big that you’re paying too much money to store air and not too small that it compromises the safety of your items.
Here is a money-saving tip: rent a big storage unit and split the cost with a trusted family member or friend. Renting two 20×20 sq feet storage units is more expensive than a 40×40 sq feet storage unit.
Read how you can get the most out of your storage unit here.
Security
As you’ll be storing your items inside the storage facility, you want to choose a storage company that is safe and secure. Henfield Storage, for instance, has extensive security measures such as intruder alarms, 24/7 CCTV, motion sensors, and thick steel walls.
Moving Costs
If you need assistance storing your items inside your storage unit, you need to include this in your budget. Many storage companies don’t involve moving costs into the lease, so you need to put aside some money for it. Henfield Storage offers a free collection service, so you don’t have to worry about additional costs.
Length of Stay
The longer your lease, the lower your rent becomes. If you choose to rent a storage unit for six months, the price you have to pay is lower than if you sign a contract for just four weeks. Plan ahead of time and determine just how long you’ll need your storage unit. If you think you’re going to be using it for a long time, talk to the site manager for a long lease. They’ll be more than happy to give you a considerable discount.
Are you looking for affordable yet clean and secure storage units? Look no further! Henfield Storage offers the cheapest storage units in London. In fact, we have a price match guarantee to back up our claim. If you find a comparable local quote that’s lower than ours, then we will match it!
Contact us now to learn more!
