Singapore's self-storage industry, with a yield of about 6.6%, is attracting more investors and companies due to its profitability. As the market becomes increasingly saturated, experts emphasise the importance of providing value-added services and amenities within their facilities.
These value-added services can include packing supplies for purchase, complimentary usage of trolleys, and the option to utilise third-party moving services, said Peter Guevarra, Director of Research Consultancy for Asia Pacific at global real estate firm JLL.
On types of amenities that selfstorage players can offer, Guevarra suggested meeting rooms, dedicated workspaces, pantry areas, and communal breakout spaces to packing stations and even bookable photography and livestreaming studios.
Industry player StorHub has introduced an online portal as a way to differentiate itself from other self storage businesses in Singapore.
“A lot of people have gotten more used to buying things online. So what helps us stand out above our competition in Singapore is that we’ve introduced, just recently, our online portal where you can book storage online,” Luigi La Tona, Group Director of Operations of StorHub, told Singapore Business Review.
This story is from the Issue 107 edition of Singapore Business Review.
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This story is from the Issue 107 edition of Singapore Business Review.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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