Safestore revenue grows in first quarter as occupancy increases
Safestore Holdings PLC on Thursday said it continues to deliver revenue growth across all markets, citing active management of rate and occupancy.
The Hertfordshire, England-based self-storage provider said revenue rose 7.9% to £61.2 million in the three months to January 31, its first financial quarter, from £56.7 million a year prior. Closing occupancy increased to 75.9% from 74.8%.
Revenue per available foot was up 5.5% to £28.15 from £26.69.
The company noted that its new Paris area store opened last month, and it expects to open five more by the end of 2026.
Chief Executive Officer 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.‘
Safestore shares were flat at 792.50 pence each on Thursday morning in London.
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