Safestore
Safestore Limited is a leading self-storage operator within the United Kingdom and Europe. This equity is listed on the London stock exchange under the ticker: “SAFE”. There are over 204 locations within the existing portfolio, with another 16 in the pipeline for 2026 and beyond.
Their expertise within the sector dates back over 25 years in the UK, with a highly trained customer-centric sales team. The group has been an “Investor in People” (IIP) accredited organisation since 2003. Safestore has won various awards over the years, with the most recent being two times Platinum winners in 2024 and 2021.
By utilising leading automated technology solutions, Safestore has at least three unmanned and fully automated facilities within the group. These are located in Eastleigh, London Paddington, and Christchurch. Both new and existing customers can access the facility through mobile applications, as this has been a success; further developments within the UK are in the pipeline. Customers can complete a full booking online for all UK stores, as well as accessing tailored support from internal sales colleagues and a National sales team looking after commercial clients.
Total revenues for full year 2024 were £223,4 million, of which EBITDA was £135.4 million. The dividends per share are distributed biannually, the last being £0.3040 pence in 2025.
Here are a few points and metrics:
1, groups closing occupancy 78.8 (31st Oct 2024)
2, Average price per square foot £29.85 (31st Oct 2024)
3, operating cash flow £95.9 million (31st Oct 2024)
4, 199 stores (31st Oct 2024)
5, locations in 6 countries; UK (137), France (Paris 30), Spain (14 between Barcelona & Madrid), Netherlands (14), Belgium (6), then there are joint ventures in both Germany & Italy.
What we like about Safestore and why we invested:
Group activities are no longer just about the United Kingdom; a focus on “Expansion Markets” or moving into Europe is one of the main reasons we added the Safestore position to the portfolio. Secondly, Safestore is a well-established group with visible earnings. This is a stock we are excited about, and we will be looking to increase shares while watching as they make headway into the European markets. Self-storage is one of the few growing industries left in Europe.
Customer demand has increased within the sector in recent years, driven to occupancy highs during the pandemic. Although the sector has started to normalise since these high pandemic levels, populations are more transient, combined with limited housing and commercial space, which is driving demand. Issues like the cost of inflation benefits to the sector as homeowners downsize and relocate.
We also like their new buildings and strong brand presentation like in this new facility in Exeter below.
Average Safestore Share Price
When looking at one of our value metrics (which should not be used in isolation) based on the stock movements over the last five years, the average this equity sits between the dates of 4th January 2021 to 3rd January 2026 is as follows:
At their highest point, the shares were valued at £14.09 on 29th December 2021.
The lowest price point would be £5.25 around the 9th April 2025.
We purchased two lots of 200 shares during 2025. The prices were between £5.50 and £6.04, which at the time was an absolutely fantastic bargain!
When looking to purchase the next lot of shares, we would be setting a future buying price between £5.95 and £6.95 for a long-term hold.
With a current “Price to Earnings” of 8.40. And a price of £7.81 at the beginning of 2026; then this stock still offers excellent value for money.
It can be an extremely complex and difficult exercise in valuing any stocks, so we must also consider a variety of other factors: (ROI) Return on Investment, (PEG) Profit Earnings Growth, debt, and sector competition, being mindful of other global economic factors such as inflation and interest rates.
Safestore Dividends
Safestore Limited distributes a dividend biannually and usually pays in the months of April & August each year. At the time of writing this article, the dividend yield was 4.2%. This business has demonstrated its ability to pay a steady and growing dividend for over ten years. History indicates distributions dating back to at least 2011.
For research purposes, here is the last ten-year history of annual payments:
2025 £0.3050
2024 £0.3020
2023 £0.3010
2022 £0.2980
2021 £0.2510
2020 £0.1860
2019 £0.1750
2018 £0.1625
2017 £0.14
2016 £0.1165
So far, we have collected two lots of the biannual dividends during 2025, totalling £81.20
Here are a few basic stock fundamentals:
PE: 8.40 (08.01.2026)
Dividend Yield: 3.89% (08.01.2026)
Further income analysis can be viewed in the file below:
FTSE:SAFE
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