Self-storage of St.Petersburg peaks up speed: number of objects is growing since the beginning of the year

Offer

According to Maris analysts, as of the end of August 126 self-storage warehouses are on St.Petersburg market. Since the beginning of this year, the number of warehouse facilities of such format has increased by 47 (compared to the result of Q4 2020), and the total number of operators has increased to 40.

Basically, the segment grew by heated storage facilities. According to the results of eight months, the segment of SS heated warehouse complexes accounted to 25% (+3 pp.), the share of mixed format, on the contrary, has decreased and amounted to 5% (-1pp). Unheated self-storage warehouses occupy the majority of the market - 70% of the gross supply in the city (-2pp).

The leaders in terms of supply on the market are Primorsky (13%), Nevsky and Vyborgsky districts of the city with 11% of the gross supply each. They are followed by the Krasnogvardeisky district, with 10% share in the gross supply. In Q2 Moskovsky district lost its position, which now accounts to 9% (-4 pp) in the gross volume of the offer of individual storage services in St.Petersburg.

Demand

Market participants associate the growth in demand for individual storage services with the development of online commerce, as well as with high mobility of customers and reduction in the average area of purchased housing. Stability of demand and high occupancy of sites throughout the year are noted. High growth rates confirm the demand for the self-storage format and its great potential.

Commercial terms

According to experts from Maris | Part of the CBRE Affiliate Network, as of the end of August 2021, the asking rates in self-storage heated warehouse complexes on average decreased by 1.9%, compared to the end of 2020, and amounted to RUB  800 – 2,000 per sqm per month. Rental rates in the segment of unheated storage facilities increased by 10% over the year and range RUB 200 to RUB 1,400 per sqm. In the current environment, the warehouse real estate market is one of the most stable sectors of commercial real estate.