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Self Store Budapest boasts more than 1,000 renters

Industrial

Hungarian self-storage company Self Store Budapest has more than 1,000 customers six years after launching its business in the Hungarian capital, and it expects to double this number in five years, managing director Márk Ablonczy said.

The company has 15,000 sqm of storage space in three buildings but will open a self-storage "plaza" in northern Budapest this spring with almost 17,000 sqm of space.

Rental fees for the units generated more than net HUF 200 mln in revenue for the company last year. More than 90% of the units were rented out.

Pre-tax profit came to about HUF 60 mln in 2014.

Ablonczy said the company had invested HUF 4 bln in its self-storage business.

Self Store rents a two-square-meter unit in the city for about HUF 10,000 a month. A seven-square-meter unit goes for about HUF 20,000.

Ablonczy estimated demand at about 50,000 sqm of self-storage space in Hungary.

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