Profits at Safestore more than doubled last year as Britain’s largest self-storage provider continued to cash in on booming demand in the UK and France and its acquisition of rival Alligator began to bear fruit.
Safestore, which operates 134 sites mostly in the UK, booked £185m of pre-tax profits for the year to October, up from £79m last year.
The boost was mostly due to £122m of gains on revaluations of its properties, as its valuers forecast higher occupation levels and better returns on investment.
