SELF-STORAGE: A SPACE SOLUTION

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SELF-STORAGE: A SPACE SOLUTION | WHITE PAPER | SEPTEMBER 2011COLLIERS INTERNATIONAL | WHITE PAPER

Increasingly more people are turning to self-storage for space solutions

-,�2&#� �!)�-$�1.�!#�!-,120�',21��,"�2&#�0'1',%�!-12�-$�&-+#1��,"�-ɒ!#�space in Singapore. The self-storage model, while at its early stage of

"#4#*-.+#,2�',��',%�.-0#I�&�1�#4-*4#"�',2-��ɗ#6' *#I�!-12L#Ɏ#!2'4#��,"�secure storage alternative for users.

�'2&�1.�!#�!-,120�',21��,"�2&#�0'1',%�!-12�-$�&-+#1��,"�-ɒ!#�1.�!#�',��',%�.-0#I�

',!0#�1',%*7�+-0#�.#-.*#��0#�ɑ,"',%�'2�!&�**#,%',%�2-�+�,�%#�2&#�1.�!#�2&#7�-!!3.7��,"��0#�

turning to self-storage for solutions in de-cluttering, organising and managing their treasured

paraphernalia like furniture, wine, equipment and documents.

Given the new but growing market for self-storage space in Singapore, this research paper

was undertaken in collaboration with Lock + Store Self Storage (Lock + Store)1 to provide the

public with a better understanding of the self-storage concept and its relevance as a space

solution in Singapore.

SEPTEMBER 2011

SELF-STORAGE: A SPACE

SOLUTION

With space constraints and

the rising cost of homes and

-ɒ!#�1.�!#�',��',%�.-0#I�increasingly more people are

ɑ,"',%�'2�!&�**#,%',%�2-�+�,�%#�the space they occupy and

are turning to self-storage for

solutions…


SELF-STORAGE: A SPACE SOLUTION | WHITE PAPER | SEPTEMBER 2011

WHAT IS SELF-STORAGE?

Self-storage or self-service storage, is essentially a “Do-It-Yourself” storage concept where

users fully manage their leased self-storage space and stored items. It allows users to lease

storage space where they can keep goods and belongings in specialised facilities.

Users of self-storage facilities are given more choices and control by which they are able to

decide what, where, when, how and for how long they store their possessions compared to

conventional warehouses. This is possible because the lease terms of self-storage spaces

start at a minimum of two weeks and can be renewed monthly or annually whereas users of

conventional warehouses are typically required to lock in leases for two to three years.

The self-storage space is generally fully-enclosed and can vary in size according to the

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�',%�.-0#�13!&��1��'%��0�,%#I�620��.�!#I��-!)��2-0#I��2-0&3 I��3 and U-Store@SG

.0-4'"#�3.�2-�@B�"'Ɏ#0#,2�1'8#1�-$�12-0�%#�1.�!#1�0�,%',%�$0-+�*-!)#01�-$�� -32�,',#�1/�$2�2-�

large storage units of up to 530 sq ft capable of holding huge business archives or the

complete contents of a house.

�-5#4#0I�2&#0#�'1�2&#�ɗ#6' '*'27�$-0�31#01�2-�-!!3.7�+3!&�*�0%#0�1.�!#1I��1�1-+#�1#*$L12-0�%#�

facility operators may amalgamate units, most of which come with heights ranging between

:G<�+#20#1��,"�:G@�+#20#1I�2-�13'2�31#01U�,##"1G��-+#�-.#0�2-01�13!&��1��-!)��2-0#��*1-�

-Ɏ#0�"-3 *#L"#!)�12-0�%#�3,'21G

Most self-storage operators provide 24-hour access for all users/customers at their facilities

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the following personalised means of entry:

c� �'-+#20'!�ɑ,%#0.0',2��!!#11

c� Key card

c� Digital pin number access

As operators are by and large not legally accountable for items stored in self-storage facilities,

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storage units, in addition to the range of security features provided by the operator.

�#1'"#1�2&#�&�0"5�0#I�+-12�1#*$L12-0�%#�-.#0�2-01��*1-�.0-4'"#�!-+.*#+#,2�07�1#04'!#1�

such as advisory service to assist users in assessing the amount of space required. Another

#6�+.*#�'1�2&#�1#04'!#�.0-4'"#"� 7��3, a storage subdivision run by the Singapore Post, which

capitalised on their logistics strengths to provide selectable moving services to facilitate the

Self-storage or self-service

storage, is essentially a “Do-

It-Yourself” storage concept

where users fully manage their

leased self-storage space and

stored items. It allows users to

lease storage space where they

can keep goods and belongings

in specialised facilities.

Users of self-storage facilities

are given more choices and

control by which they are

able to decide what, where,

when, how and for how long

they store their possessions

compared to conventional

warehouses.



movement of goods for the customer. Lock + Store also introduced an integrated three-in-one

-ɒ!#I�12-0�%#��,"�"'120' 32'-,�1#04'!#�!-,!#.2�$-0�'21� 31',#11�31#01G

Meanwhile, other ancillary services made available by operators include pest control and

-,*',#�1#*$L12-0�%#�-.#0�2',%�1712#+1I�5&'!&�-Ɏ#0�0#�*L2'+#�',$-0+�2'-,�-,�1.�!#��4�'*� '*'27�

�2�"'Ɏ#0#,2�$�!'*'2'#1G�

�-12�1#*$L12-0�%#�.0-4'"#01��*1-�12-!)�.�!)',%�13..*'#1�*')#� -6#1I�2�.#1I� 3 *#�50�.1I�!*',%�

ɑ*+1I�"#&3+'"'ɑ#01I�!-003%�2#"� -�0"1��,"�.�"*-!)1�2&�2��0#�0#�"'*7��4�'*� *#�$-0�1�*#�2-�

customers.

WHAT CAN BE STORED IN A SELF-STORAGE FACILITY?

Generally, self-storage facilities can accommodate a wide range of items ranging from

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items and furniture to business products and documents.

However, as the local self-storage industry develops and evolves over time, the suite of

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customers and niche user groups.

-0�',12�,!#I�1-+#�-.#0�2-01�-Ɏ#0��'0L!-,"'2'-,#"�12-0�%#��0#�1�',�2&#'0�$�!'*'2'#1I�5&'!&��0#�

kept at a constant temperature of between 23O��,"�:=O�G��1#01�+�7�!&--1#�2-�12-0#�

anything from precious collections of antiques and paintings, to equipment and musical

instruments.

�-+#�-.#0�2-01�13!&��1�620��.�!#��,"��-!)��2-0#��*1-�-Ɏ#0�5',#L12-0�%#�$�!'*'2'#1�2-�

cater to the special requirements of wine collectors and wine dealers where a controlled

internal environment is maintained, i.e. a constant temperature of 13O��,"��&3+'"'27�*#4#*�-$�

#25##,�>=��,"�?=�G��-+.*#+#,2�07�2�12',%�0--+1��0#��*1-��4�'*� *#��*-,%1'"#�2&#'0�

wine-storage cellars.

�#4#02&#*#11I�5&'*#��',%�.-0#�,1��0#�',!0#�1',%*7� #!-+',%��ɘ3#,2��,"�1-.&'12'!�2#"I�

storage behaviour still centres largely on storing personal and household items. Lock + Store

carried out a survey2�-$�'21�;B;�#6'12',%�1#*$L12-0�%#�31#01�$0-+�'21�$�!'*'2'#1�',��&�'��&##��,"�

��,(-,%��%�0�$0-+��3*7�L��3%312�:B99�r&#0#�$2#0�0#$#00#"�2-��1�W�-!)��2-0#U1�31#0�

survey”) and found that the majority of their customers stored clothing, shoes and other

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Arts, crafts and other hobby/interest-related items collected and stored by users currently

constitute 3% of items stored at their facilities.

�-30!#J��n��-**'#01� ,2#0,�2'-,�*��',%�.-0#��#1#�0!&

… self-storage facilities

can accommodate a wide

range of items ranging from

personal and household items

… to business products and

documents.

… as the local self-storage

industry develops and evolves

over time, the suite of services

-Ɏ#0#"� 7�-.#0�2-01�&�1��*1-� ##,�#6.�,"#"�2-�+##2�2&#�changing needs of customers

and niche user groups.



�2&#01

9%

�&'*"0#,R1� 2#+1

2%

�021n�0�$21n�- y

3%

Wine

3%

�--)1�^��s

5%

�31',#11��0-"3!2s

7%

Archives/Documents/Files

8%

Furniture

16%

18%

�*-2&',%I��&-#1�^��2&#r

Household Items

29%

Breakdown of Items Stored

WHERE ARE THESE SELF-STORAGE FACILITIES LOCATED?

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#'%&2�1#*$L12-0�%#�-.#0�2-01�5'2&�-4#0�:B�1#*$L12-0�%#�$�!'*'2'#1�-Ɏ#0',%�+-0#�2&�,�9G;�+'**'-,�

sq ft of net leasable space in Singapore as listed in Table 1.

�&#�+�(-0'27�-$�#6'12',%�1#*$L12-0�%#�$�!'*'2'#1��0#�*-!�2#"�',�2&#��12#0,��#%'-,�5&'*#�-2&#01�

can be found in the Northern and Western Regions of Singapore (please see Map 1).

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facilities are often set up near densely populated residential areas or commercialised areas as

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Today, there are about eight

self-storage operators with

over 20 self-storage facilities

-Ɏ#0',%�+-0#�2&�,�9G;�+'**'-,�sq ft of net leasable space in

Singapore…

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To provide greater convenience

and accessibility for the

"'Ɏ#0#,2�%0-3.1�-$�31#01I�self-storage facilities are

often set up near densely

populated residential areas or

commercialised areas as well

as close to MRT stations and

+�(-0�#6.0#115�71G�



TABLE 1 : LIST OF SELECTED SELF-STORAGE SPACE IN SINGAPORE

No. Building Name Operator LocationRange of Sizes of

Space (sq ft)Term of Lease

1 �2�,"�0"�-0+��3'*"',% �'%��0�,%# 37 Tampines Street 92 20 - 200 Minimum 1 month

2 �'!2-07��3'*"',% �'%��0�,%# 111 Defu Lane 10 20 - 200 Minimum 1 month

3 =��3)'2��2-)��20##2�:: �'%��0�,%# =��3)'2��2-)��20##2�:: 20 - 200 Minimum 1 month

4 14 Woodlands Loop �'%��0�,%# 14 Woodlands Loop 20 - 200 Minimum 1 month

5 Markono Districentre ��2-0�%# 50 Tagore Lane 11 - 135 Minimum 1 month

6 �� ,"3120'�*��3'*"',% 620��.�!# A��',��',%� ,"3120'�*�12�2#��#!2-0�� 14 - 300 Minimum 14 days

7 620��.�!#��--,��#,% 620��.�!# ;B9��--,��#,%��-�" 14 - 300 Minimum 14 days

8 620��.�!#�3,-1 620��.�!# ?��)'��3)'2��-�"�: 14 - 300 Minimum 14 days

9 ��3'*"',% 620��.�!# :��30-,%��12��20##2�:9 14 - 300 Minimum 14 days

10 9��*#+#,2'��--. 620��.�!# �-G�9��*#+#,2'��--. 14 - 300 Minimum 14 days

11 ��3'*"',% ��L�#*$��2-0# 1100 Lower Delta Road 15 - 200 Minimum 1 month

��6'+3+�;�+-,2&1

12 �-!)��2-0#��&�'��&## Lock+Store =B:��&�'��&##��,# 16 - 300 Minimum 1 month

13 Tanjong Pagar Distripark Lock+Store 37 Keppel Road 11 - 200 Minimum 1 month

14 Hersing Hub Storhub 743 Lorong 5 Toa Payoh 12 - 530 Minimum 1 month

15 �2-0&3 ��&�,%'�9 Storhub :=��&�,%'��-32&��20##2�9 12 - 530 Minimum 1 month

21

20

19

18 14

5

4

3

9

10

11

13

7

17

8

2

12

1

16 15

6

Map 1

�-,2',3#"�2-�,#62�.�%#



Frequency of Visits

As necessary

1%

Daily

5%

Weekly

16%

Fortnightly

16%

Monthly

33%

�'L+-,2&*7

15%

Quarterly

9%

�'6L�-,2&*7

1%

Yearly

4%

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�$2#0��**I� �1#"�-,��-!)��2-0#U1�31#0�1304#7I�+-0#�2&�,�;B��-$�2&#'0�!312-+#01�4'#5#"�

location and ease of access as very important considerations in selecting their choice of self-

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who responded to the survey visit their self-storage facilities more than once a month. In fact,

5% of the respondents visit their storage facilities on a daily basis.

TABLE 1 : LIST OF SELECTED SELF-STORAGE SPACE IN SINGAPORE

No. Building Name Operator LocationRange of Sizes of

Space (sq ft)Term of Lease

16 �2-0&3 ��&�,%'�: Storhub 9=��&�,%'��-32&��20##2�9 12 - 530 Minimum 1 month

17 Storhub Kallang Storhub 160 Kallang Way 12 - 530 Minimum 1 month

18 Storhub Toa Payoh Storhub 615 Lorong 4 Toa Payoh 12 - 530 Minimum 1 month

19 23 Tampines Street 92 Storhub 23 Tampines Street 92 8 - 530 Minimum 1 month

20 Singapore Post Ayer Rajah

�#*'4#07��1#S3 Singpost >��7#0��(�&��0#1!#,2 9 - 406 Minimum 1 month

21 �',%�.-0#��-"-5,��3'*"',% U-Store@SG 25 Tagore Lane 10 - 390 Minimum 1 month

��6'+3+�9�7#�0

�-30!#J��-**'#01� ,2#0,�2'-,�*��',%�.-0#��#1#�0!&

�-,2',3#"�$0-+�.0#4'-31�.�%#



HOW MUCH DOES SELF-STORAGE COST?

The cost of using self-storage space typically depends on the brand name of the operator; the

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services like specialised packing service and moving services; as well as the location of the

facility.

�� 0-�"�1304#7�-$�+�(-0�1#*$L12-0�%#�-.#0�2-01�',��',%�.-0#� 7��-**'#01� ,2#0,�2'-,�*�0#4#�*#"�

that the cost for regular, non-air-conditioned self-storage units range from $40 per month for

a 9 sq ft locker to about $1,200 per month for a 390 sq ft unit.

�,�2-.�-$�2&#� �1#�!-12I�-2&#0�!-121�+�7�',!*3"#��-,#L2'+#��"+','120�2'4#�$##��,"�',130�,!#�

$##1�$-0�12-0�%#�!-,2#,21�',�2&#�#4#,2�-$�ɑ0#I�2&#$2�-0�5�2#0�"�+�%#G

TABLE 2 : ESTIMATED COST OF USING SELF-STORAGE SPACE IN SINGAPORE

Range of Sizes of Units (sq ft) Estimated Range of Cost (S$ per month)

9 - 50 40 - 360

51 - 100 190 - 470

101 - 200 540 - 950

201 - 400 800 - 1,200

> 400 > 1,200

�-30!#J��-**'#01� ,2#0,�2'-,�*��',%�.-0#��#1#�0!&

WHO USES SELF-STORAGE SPACE?

Users of self-storage space encompass a cross-section of individuals and businesses.

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#6'12',%�1#*$L12-0�%#�1.�!#�31#01�5&-�0#1.-,"#"�5#0#�',"'4'"3�*1�5&'*#�;B��5#0#� 31',#11�

owners in various industries. A small 2% were hobbyists. However, Lock + Store observed

that they are a growing group.

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�'1',%��ɘ3#,!#�&�1�*#"�2-�&'%&#0�.30!&�1#1�-,�!*-2&',%I�1&-#1I�&-31#&-*"�'2#+1��,"�#4#,�

collectables such as artwork, limited edition toys and wines which generally require storage

space. The need for storage space is further compounded by the developing trend towards

1+�**#0�&-31',%�3,'21��,"�.0-4'"',%�&-+#1�5'2&� �7�5',"-51I�*�0%#0�.*�,2#0� -6#1I� �*!-,'#1�

�,"��'0L!-,�*#"%#1�5&'!&�#Ɏ#!2'4#*7�0#"3!#�31#� *#�1.�!#�5'2&',��&-+#G��&#1#�&�4#�

.0-+.2#"�1-+#�',"'4'"3�*1�2-�*--)�$-0�+-0#��Ɏ-0"� *#��*2#0,�2'4#�12-0�%#�1.�!#G��-!)��2-0#�

The cost of using self-storage

space typically depends on the

brand name of the operator;

2&#�$#�230#1n1.#!'ɑ!�2'-,1n-Ɏ#0',%1�-$�2&#�$�!'*'2'#1H�ancillary services… as well as

the location of the facility.



… with shrinking apartment

sizes, households are also

increasingly looking to self-

storage facilities to keep their

treasured possessions

Breakdown of Users of Self Storage Space

�-30!#J��-!)��2-0#n�-**'#01� ,2#0,�2'-,�*��',%�.-0#��#1#�0!&�

has seen some 19% of its survey respondents using its self-storage facilities because they

are moving from a big house to a smaller unit and so they need a place to store their

belongings.

According to Lock + Store, with shrinking apartment sizes, households are also increasingly

looking to self-storage facilities to keep their treasured possessions. Not used to the

minimalist concept of “less is more”, Singaporeans continue to be fond of purchases and

keeping their prized acquisitions. Interestingly, Lock + Store have encountered a number of

men looking for storage space as their wives can no longer put up with their auto parts

collections at home.

An increasing number of individuals are also using self-storage space as a temporary storage

1-*32'-,�"30',%�-ɒ!#�-0�&-+#�0#,-4�2'-,1�-0�0#*-!�2'-,1�5&'*#�#6.�20'�2#1n20�,1'#,2�5-0)#01�

�0#�230,',%�2-�1#*$L12-0�%#�1.�!#��1��!-12�#Ɏ#!2'4#�+#�,1�-$�2#+.-0�0'*7�"#.-1'2',%�2&#'0�

belongings while they are away for assignments. Lock + Store has 9% of its users who

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belongings”, 5% who said that “there is not enough space at home” and 3% who stated “for

renovation purposes”, as reasons for using a self-storage facility.

�31',#11 r�3*2'L��2'-,�*��-0.-0�2'-,1)

4%

�31',#11r�+�**��,"��#"'3+�,2#0.0'1#1s

18%

�31',#11(New Start-up)

6%

�31',#11�r�2&#01)

2%

Individuals

68%

Hobbyist

2%



From the business/corporate perspective, rising occupancy costs of business space has led to

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1.�!#1��**-5�2&#+�2-��0!&'4#�"-!3+#,21��,"�12-0#�',4#,2-0'#1�',�+-0#�!-12L#Ɏ#!2'4#�$�!'*'2'#1�

while not being tied down to long and cumbersome leases.

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requirements, depending on their business needs are also turning to self-storage to

warehouse their products/inventories.

Moreover, new start-ups/entrepreneurs are using self-storage space as a warehousing option

for their inventories as a means of lowering initial overhead costs.

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230,#"�2-�1#*$L12-0�%#�1.�!#��1�0#,2',%��1&-.n5�0#&-31#�1.�!#n-ɒ!#�2-�12-0#�2&#'0�.0-"3!21�

'1�2--�!-12*7I�5&'*#�1-+#�9B��',"'!�2#"�2&�2�2&#7�&�4#��&-+#L-ɒ!#n',2#0,#2L-ɒ!#��,"�

needed just a small space to store their products.

0% 5% 10%1 5% 20%2 5% 30%3 5%

f

e

d

b

c

a

g

Notes:

c. Moving from a big house to a smaller unit so I need a place to store my belongings

"G� U+��,�#6.�20'�2#��,"�2&#�.*�!#� �0#,2�'1�2--�1+�**�2-�12-0#��**�+7� #*-,%',%s

e. I travel a lot for work sometimes on short or long-term intervals. It makes more sense to store my

�� #*-,%',%1��2��-!)��2-0#�0�2&#0�2&�,�2-�#62#,"�+7�0#,2�*�.#0'-"f. A new addition to the family means we need to clear room for baby

%G��2&#0�0#�1-,1

Reasons for Using Self Storage

0% 5% 10% 15% 20% 25% 30% 35%

Notes:

�G��#,2',%��1&-.n5�0#&-31#�1.�!#n-ɒ!#�2-�12-0#�+7�.0-"3!21�'1�2--�!-12*7 G�� U4#��&-+#L-ɒ!#n',2#0,#2L-ɒ!#G� �(312�,##"��1+�**�1.�!#�2-�12-0#�+7�.0-"3!21c. Moving from a big house to a smaller unit so I need a place to store my belongings

"G�� U+��,�#6.�20'�2#��,"�2&#�.*�!#� �0#,2�'1�2--�1+�**�2-�12-0#��**�+7� #*-,%',%1e. I travel a lot for work sometimes on short or long-term intervals. It makes more sense to store my

�� #*-,%',%1��2��-!)��2-0#�0�2&#0�2&�,�2-�#62#,"�+7�0#,2�*�.#0'-"f. A new addition to the family means we need to clear room for baby

%G��2&#0�0#�1-,1�

�-30!#J��-!)��2-0#n�-**'#01� ,2#0,�2'-,�*��',%�.-0#��#1#�0!&

… rising occupancy costs of

business space has led to

them increasingly turning to

self-storage space to optimise

-.#0�2'-,�*�#ɒ!'#,!7H�5&'*#�not being tied down to long and

cumbersome leases.



... the cost/price and location of

self-storage facilities seem to

be ranked highly among those

who are looking for space.

GGG��-!)��2-0#U1�31#0�1304#7�showed that the attributes

of self-storage facilities

that garnered the highest

percentage of respondents

0�2',%�2&#+��1�W�#07� +.-02�,2X�are “Price” (45%) and

“Location of Facilities” (37%).

WHAT ARE USERS’ KEY CONSIDERATIONS IN SELECTING A SELF-STORAGE FACILITY?

�&'*#�31#01��0#�#6.#!2#"�2-�&�4#�"'Ɏ#0#,2�1#*#!2'-,�!0'2#0'�I�2&#�!-12n.0'!#��,"�*-!�2'-,�-$�

self-storage facilities seem to be ranked highly among those who are looking for space.

Similar to other types of properties, these are also important considerations of space

occupants.

,"##"I��-!)��2-0#U1�31#0�1304#7�1&-5#"�2&�2�2&#��220' 32#1�-$�1#*$L12-0�%#�$�!'*'2'#1�2&�2�

%�0,#0#"�2&#�&'%&#12�.#0!#,2�%#�-$�0#1.-,"#,21�0�2',%�2&#+��1�W�#07� +.-02�,2X��0#�W�0'!#X�

(45%) and “Location of Facilities” (37%).

�1#01��*1-�4�*3#��220' 32#1�13!&��1�W�#!30'27XI�W�1#�-$��!!#11XI�W*#6' *#��2-0�%#��#0+1X�

�,"�W�312-+#0��#04'!#X�&'%&*7G��&#1#�%�0,#0#"�2&#�,#62�&'%&#12�.#0!#,2�%#�-$�W�#07�

Important” votes ranging from 27% to 36%.

�-,4#01#*7I�0#1.-,"#,21�!-,1'"#0�2&#�W�4�'*� '*'27�-$��!!#11-0'#1X�r#G%G� -6#1I�1&#*4',%I�#2!GsI�

W�#$#00#"��02,#01X�r#G%G�+-4',%��,"�',130�,!#�!-+.�,'#1s��,"�W�-,ɑ"#,2'�*'27X��1�&�4',%�

lower levels of importance.

Importance of Attributes

�-30!#J��-!)��2-0#n�-**'#01� ,2#0,�2'-,�*��',%�.-0#��#1#�0!&

0% 10%2 0% 30%4 0% 50%6 0% 70%8 0% 90%1 00%

Availablity of Accessories

Referred Partners

�312-+#0��#04'!#

*#6' *#��2-0�%#��#0+1

�1#�-$��!!#11�

Security

Location of Facility

Price

Least Important Slightly Important Average Moderately Important �#07� +.-02�,2

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%



WHAT ARE THE GROWTH PROSPECTS FOR THE SELF-STORAGE INDUSTRY?

Land scarcity in Singapore, coupled with a growing population and vibrant business

environment will continue to drive demand for self-storage space.

This will be further supported by the growing fad of “Mickey Mouse” homes (i.e. residential

units that are less than 500 sq ft) which may also create new demand for self-storage space

as households look outside of their homes for additional storage space.

Additionally, Singaporeans are increasingly acquiring less conventional hobbies such as arts

and crafts collections, wine appreciation and mountain-biking that require added storage

space. This will contribute to the demand for self-storage space.

Moreover, capping occupancy costs of business space remains a relevant and important

!-,1'"#0�2'-,�$-0� 31',#11#1n!-+.�,'#1�2-�#,130#�!-12L#Ɏ#!2'4#�-.#0�2'-,1I�.�02'!3*�0*7�

during times of increasing rental costs. This will continue to create demand for self-storage

space.

,�.�02'!3*�0I��-!)��2-0#�$-0#1##1�2&�2�+-0#�12�02L3.�ɑ0+1��,"�1+�**��,"�+#"'3+�

#,2#0.0'1#1�r��1sI�#1.#!'�**7�2&-1#�',4-*4#"�',�-,*',#� 31',#11#1��0#�#6.#!2#"�2-�31#�1#*$L

storage facilities to keep operational costs low. This trend looks set to continue as the

Singapore government continues to create favourable conditions for entrepreneurship.

��1304#7�-$�#6'12',%�1#*$L12-0�%#�31#01��2��-!)��2-0#�0#4#�*#"�2&�2�� -32�A��-$�2&#+�

',"'!�2#"��,�',2#,2'-,�2-�#6.�,"�2&#'0�12-0�%#�1.�!#�0#/3'0#+#,21�',�2&#�,#62�1'6�2-�9:�

�-30!#J��-!)��2-0#n�-**'#01� ,2#0,�2'-,�*��',%�.-0#��#1#�0!&

Intention to Increase Usage of

Storage Space in next 6 months

Intention to Increase Usage of

Storage Space in next 12 months

Yes 9%

No 91%

Maybe 0% Yes 9%

No 89%

Maybe 2%

Land scarcity in Singapore,

coupled with a growing

population and vibrant business

environment will continue to

drive demand for self-storage

space.

... Singaporeans are

increasingly acquiring less

conventional hobbies … that

require added storage space.

This will contribute to the

demand for self-storage space.

… capping occupancy costs

of business space remains

a relevant and important

consideration for businesses/

companies to ensure cost-

#Ɏ#!2'4#�-.#0�2'-,1I�.�02'!3*�0*7�during times of increasing

rental costs. This will continue

to create demand for self-

storage space.



COLLIERS INTERNATIONAL

CONSULTANCY & VALUATION

(SINGAPORE) PTE LTD

9��ɘ#1��*�!#�<=LBB��,#��ɘ#1��*�!#Singapore 048616

TEL +65 6223 2323

FAX +65 6222 4901

��9A@9B=A>=

This report and other research materials may

be found on our website at www.colliers.com.

Questions related to information herein should

be directed to the Research Department at the

number indicated above. This document has

##,�.0#.�0#"� 7��-**'#01� ,2#0,�2'-,�*�$-0�advertising and general information only.

�-**'#01� ,2#0,�2'-,�*�+�)#1�,-�%3�0�,2##1I�representations or warranties of any kind,

#6.0#11�-0�'+.*'#"I�0#%�0"',%�2&#�',$-0+�2'-,�including, but not limited to, warranties of

content, accuracy and reliability. Any interested

party should undertake their own inquiries as to

2&#��!!30�!7�-$�2&#�',$-0+�2'-,G��-**'#01� ,2#0,�2'-,�*�#6!*3"#1�3,#/3'4-!�**7��**�',$#00#"�or implied terms, conditions and warranties

�0'1',%�-32�-$�2&'1�"-!3+#,2��,"�#6!*3"#1��**�liability for loss and damages arising there from.

This publication is the copyrighted property of

�-**'#01� ,2#0,�2'-,�*��,"n-0�'21�*'!#,1-0r1sG��© 2011. All rights reserved.

AUTHORS:

Michelle Tee

�11'12�,2��,�%#0�p��#1#�0!&�^��"4'1-07EMAIL [email protected]

*'8��##�#1#�0!&��,�*712�p��#1#�0!&�^��"4'1-07EMAIL [email protected]

1��-!)��2-0#�'1��1#*$L12-0�%#�$�!'*'27�-.#0�2-0�',��',%�.-0#G��'2&��2-2�*�-$�25-�1#*$L12-0�%#�$�!'*'2'#1�',�2&#�*-!�*�+�0)#2I�'21�ɐ012�1#*$L12-0�%#�.0#+'1#1�5�1� opened in Tanjong Pagar DistriPark in 2005.2 Lock + Store carried out a survey of its 303 existing self-storage users from its facilities in Chai Chee and Tanjong Pagar from July - August 2011. The aim of ��2&#�1304#7�5�1�2-�3,!-4#0�2&#�.0-ɐ*#I��22'23"#1I�.0�!2'!#1��,"�0#/3'0#+#,21�-$�'21�31#01�2-�"0�5��.0#*'+',�07�.0-67�-$�0#.0#1#,2�2'-,�-$�1#*$L12-0�%#�31#01�',� Singapore.

months, which bodes well for the industry. The poll also showed that some of the self-storage

31#01�5&-��0#��1��0#�!�32'-31*7�-.2'+'12'!�� -32�2&#'0� 31',#11�.#0$-0+�,!#�',�2&#�7#�0�

�&#�"��,"�2&'1�'1�#6.#!2#"�2-� 3-7�"#+�,"�$-0�1#*$L12-0�%#�1.�!#G

�#,!#I�2&#�%0-52&�.0-1.#!21�$-0�2&#�1#*$L12-0�%#�',"31207��0#� 0'%&2G� ,�$�!2I�!-,ɑ"#,!#�',�2&#�

market is evident from the steady entrance of new players into the self-storage scene, the

+-12�0#!#,2� #',%��L�#*$��2-0#I�5'2&�4�07',%��"�.2�2'-,1�-$�2&#�!-,!#.2�-$�1#*$L12-0�%#G�

6'12',%�',"31207�.*�7#01��0#��*1-�207',%�2-�120#,%2&#,�2&#'0�$--2&-*"�',�2&#�+�0)#2G�-0�

#6�+.*#I��.'2��,"��'+'2#"I�5&'!&�&�1�$-0+#"��(-',2�4#,230#�5'2&��#01',%��-0.-0�2'-,��2"�

to manage the “Storhub” brand of self-storage facilities in Singapore, has announced in 2010

its intention to “grow its new business in self-storage and double the Storhub portfolio of

.0-.#02'#1�',�2&#�!-+',%�7#�0XG��-!)��2-0#��*1-�#6.�,"#"�'21�$�!'*'27��2��,(-,%��%�0� 7�

another 38,000 sq ft in September 2011.

CONCLUSIONS

The advent of the self-storage space model has stemmed mainly from the needs of

',"'4'"3�*1��,"� 31',#11#1�$-0�12-0�%#�$�!'*'2'#1�2&�2�.0-4'"#�2&#+�5'2&�%0#�2#0�ɗ#6' '*'27��,"�

control over the management of space and storage of items.

Although the local self-storage space model is still in its nascent stage of development with

�0#*7��"#!�"#U1�.0#1#,!#�',��',%�.-0#I�2&#�+-"#*�&�1�#4-*4#"�',2-��ɗ#6' *#I�!-12L#Ɏ#!2'4#�

�,"�1#!30#�12-0�%#��*2#0,�2'4#�$-0�31#01I�5&#0#�2&#�-Ɏ#0',%1��0#� #7-,"�2&-1#�-$�

conventional warehouse space.

The emergence of new and increased numbers of industry players makes it imperative for

self-storage operators to constantly adapt and develop innovative self-storage concepts to

!�2#0�2-�2&#�#4-*4',%��,"�1.#!'ɑ!�,##"1�-$�"'Ɏ#0#,2�!312-+#0�%0-3.1��,"�',�230,�%0-5�2&#�

market potential of the industry in Singapore.

Acknowledgement:�-**'#01� ,2#0,�2'-,�*��',%�.-0#��#1#�0!&�5-3*"�*')#�2-�2&�,)��-!)��2-0#�$-0�1&�0',%�2&#'0�1304#7�ɐ,"',%1I�$�!21��,"�opinions on the self-storage market in Singapore.