Student storage Bristol is the best option when a student requires a place for the belongings during the summer break. A small storage unit can be rented for short term basis which can be a month, two months or for an indefinite time period. Leases are flexible and rates are competitive but with the same level of security provided to personal and business storage.
While the self storage industry is already established in countries like the United States, United Kingdom and Australia, Asian countries are still attracting investors. Valet self storage businesses are among the recent startups who intend to capitalize on the opportunities present in Hong Kong.
According to a report by Gulf News, there is a growing trend of micro-living in Hong Kong market. A 20-square meter apartment costs about HK$4.5 million and many young professionals are opting to live in these micro apartments that have very little living space with hardly any area for storage. According to Colliers, at least ¾ of Hong Kong apartments lack dedicated storage and this justifies valet self storage services as well as the suitcase rentals.
Investors in valet storage and operators in the region are banking on the services of by-the-bin storage, home pickup and delivery and online inventory management that aim to attract those living in dense urban areas that do not have adequate storage.
Hong Kong market has attracted several operators of valet self storage like Boxful, Go N Live, Kiosit, Spacebox Ltd, StuffGenie Ltd and Vault Dragon. Hong Kong Storage is among the traditional self storage operators with 15 facilities in the region with pickup and delivery services.
Boxful has raised about $8.1 million from investors since January and by April it has been able to store at least 3,500 boxes. Most of their customers are unaware of self storage and it is very encouraging to create a new market.
Spacebox has 500 current customers and it is expecting about 5,000 before the year ends. They believe that valet self storage will create economies of scale so that operators will be required to acquire additional warehouse space to accommodate the growing number of residential customers. Spacebox is also looking at China to expand its international market.