The economic growth forecast might have been reduced, yet there have been noticeable developments in certain industries, including online retail, since the Chancellor prepared his first budget. This has meant that along with affordable housing for first time buyers, there has been a growing demand for warehousing and storage spaces across the UK.

During the annual Shedmaster’s event in Cannes in March, the growing demand for warehouse space was highlighted. According to research carried out by Savills, the take up of warehousing space in the UK exceeded 5m sq ft in Q1 2016, which is an 85% increase on Q1 2015.

All manner of companies are looking to expand and need the facilities to make this possible. From individuals who have been operating from their spare room to large, multinational corporations, there is a growing need for fit for purpose warehousing space.

What are the options?

Self Storage Facilities

Across the country there are hundreds of self storage companies that provide a secure space for businesses to use for storage and warehousing. The benefits of such facilities are that you often have 24 hour access to a clean, dry space, which can be fitted out in the best way for your business. Most facilities will include a range of unit sizes, so you can pick the best option for your requirements and also know that you can upgrade to a larger unit as the business grows.

Many self storage facilities also offer other business support, including logistical support with picking, pacing and dispatching, which can be advantageous to start ups and small businesses. There are often better value rates for companies that are looking for long term hire and it can be more cost effective than moving to new, larger premises. Having said this, you will need to factor in the long term costs of renting and the time and costs involved in driving to and from the unit.

Modular Buildings

If you have some available land, another option is to consider investing in a modular building. A modular building is one that is largely constructed off-site, before being transported to your premises as a completed building.

Modular buildings can be designed to a variety of styles to ensure they are in keeping with existing buildings. In addition to the exterior features, they can be fully fitted with the appropriate flooring, plumbing, electrics and interior fittings and fixtures. This means that once in position and connected to the mains, they are ready to use.

Modular buildings have been widely used as classrooms, office space, sport club changing rooms, community centres and hospital wards. They can be just as easily kitted out to provide much needed warehousing and storage space.

If you intend to remain in business for many years to come, this could be a more cost effective option than renting a self-storage unit. If it is located on-site, it also offers greater convenience and efficiency than driving to a rented unit, especially if there isn’t one in close proximity. What’s more, if you decide to move premises, your modular building can be disconnected, transported and reconnected in your next location.

If you would like to find out more about modular buildings and their suitability in terms of your requirements, contact Spring-field, or view our online brochure. In addition to storage space, they could be the ideal solution for creating additional office space, training rooms, a canteen or other business facilities.

Moving Premises

Another option is to move into premises which offer the additional space you require. With a growing awareness for the need for sufficient warehousing and storage space, many purpose-built commercial premises are providing the necessary space. This is an appealing selling point for manufacturing and retail companies.

There are parts of the country with a good range of commercial property on the market or work in progress to deliver suitable premises in the near future. In other areas, the options will be more limited or the cost prohibitive. Registering with local commercial property specialists will allow you to be the first to hear when a suitable building comes onto the market or when new developments are nearing completion.

According to Savills predictions, this demand for warehouse and storage space is likely to continue to grow throughout 2016, so it could be worth exploring the options before you reach or exceed capacity.