How much is your self storage business worth?
There are many reasons why a self storage business might need to be valued. With a niche asset class such as self storage it is essential to get specialist advice.
Harrington Wyles has 25-years experience of dealing with commercial property and the past 15 years specifically in the self storage industry in three countries. This specialist sector specific expertise enables us to understand the real value of the asset as well as any potential value which is yet to be unlocked.
Self storage value is based on the performance and stability of the revenue created by the business, as well as the freehold property is may occupy. If the business is in leasehold premises, then the terms of the lease will have significant implications on the value of the business.
Also, external factors such as competition, and physical changes to the environment will have implications. The success of self storage is also governed by it’s location and the physical characteristics of the area. All the factors need to be considered.
What about the facility’s occupancy? Is this sustainable? Is the space physically full? It maybe full but what is the economic occupancy? Is there room to expand? What is the supply of storage in the area? All these questions will have implications on value. With specialist knowledge of the industry your business will be valued comprehensively, taking all relevant factors into account.
You may need a valuation for a multitude of reasons.
These may include:
Mortgage / Loan Security Purposes
Taxation and Inheritance
Financial Planning and Annual Accounts
Sales and Acquisitions
Rent Review and Lease Renewal
Dilapidations (Section 18, The Landlord and Tenant Act 1927)
Whatever the reason call Harrington Wyles today and take advantage of our self storage specialist expertise.