Join our community of smart investors

Safestore safer than houses

The storage firm books an impressive rise in profits on the back of valuation upgrades
Safestore safer than houses
  • Expansion looks more likely
  • Looks priced for perfection

The trend towards ever smaller modern houses, as developers squeeze every last inch out of available development land, means parking excess stuff in safe storage is now a permanent feature of modern life. That is good news for Safestore (SAFE) where new sites can achieve initial income yields of over 6 per cent. The company’s focus on London and the southeast – it has 48 sites within the M25 – is also another plus point as, though the sites are smaller on average, they yield proportionately higher returns from space-starved commuters. In the meantime, reported profits rose to the rising valuations on its portfolio of investment properties.

To continue reading...
Join our Community of Smart Investors
  • Independent full-length company analysis
  • Actionable investment ideas and recommendations
  • Expert investment tools and data
  • Stock screens from Algy Hall
Have an account? Sign in