- 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.