According to the demographics, the caravan storage sector is headed for a boom. Over the next 20 years, a large number of Australians will retire. “There is a relatively good link between the proportion of the population over 65 years, and the overall number of Caravan and Campervan registrations,” according to the caravan industry association of Australia’s 2020 industry report.
Self-storage investors may find it difficult to discover markets with capacity for new supply these days, but that doesn’t mean there aren’t potentially lucrative bargains to be obtained. In fact, even in a congested industry, introducing a speciality product or service like car or caravan storage may help make the numbers work.
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What are the Requirements?
Developing a storage facility for caravans and other vehicles appears to be a viable option. For the ordinary caravan, each plot costs roughly $1000 per year, with bigger vehicles costing nearly twice as much. The storage surface should ideally be paved or at the very least dry and firm, although there are many current storage facilities that are essentially open ground or greenfield. Not only do you need a lot of room to run a caravan storage business, but you also need a lot of protection. The location should ideally include an alerting electric fence, security cameras, and onsite personnel. Other than the market for storage in any location, there is essentially no limit to the size of your storage facility, with some facilities storing up to 2100 recreational vehicles.
Millions of people with various requirements and situations benefit from the self-storage market. Self-storage facilities that provide vehicle storage are the greatest alternative for people who have an additional vehicle such as a car, boat, or RV. When it comes to automobile parking, safety is crucial.
Vehicle storage frequently includes the same additional benefits as climate-controlled storage. Temperature-controlled units are supplied, allowing even the most costly automobiles to be securely kept there for an extended period of time. Every year, an increasing number of consumers turn to these services to preserve their belongings. Vehicle storage is critical in areas like harbors, racetracks, and airports.
If you are interested in co-invested in self-storage, more specifically caravan and vehicle storage, get in contact with Rob from Box Commercial today.