Cost for storage unit

[Spirits High]

I've been looking to clear the house out of Dj stuff as it's getting everywhere (no garage) so have had my eye out for a lock up type thing.

Funnily enough there's one just up the road from me come up for rent (5mins walk)

Size wise it's a lock up of 3m x 12m with a yard in front of it long enough to take 2 vans with a very large secure metal gate.

There's lighting in the unit but it has not got it's own electricity.

Price wanted is £65 pw + VAT. Spoke to the Guy who owns it and he's happy with either a 6 month rolling lease or a long term lease.

Does that sound about right for a rental figure?

[Sapphire Disco]

That's £78.00 a week £312.00 a month can't you find a cheaper alternative ?
Don't know what you charge but it would be like doing one disco a month for nothing to me.

If you added £312.00 a month to your mortgage couldn't you afford a bigger place ?

[DeckstarDeluxe]

Well most storage units use feet so thats 39.3 x 9.8 so pretty much 380 sq ft for 260+vat.

The cheapest quote I've had for a large storage unit was for only 225 sq ft which was just under £300 but does have power and lights.

Not a bad price really, I've looked long and hard for a cheaper solution but yet to find one, I know of someone else who had a fantastic unit for half what I was quoted, couldn't find
one myself though!

[Spirits High]

That's £78.00 a week £312.00 a month can't you find a cheaper alternative ?
Don't know what you charge but it would be like doing one disco a month for nothing to me.

If you added £312.00 a month to your mortgage couldn't you afford a bigger place ?

Still looking around at the moment but your last sentence pretty much put's it into perspective

[Charlie Brown]

Nah, that's very expensive Paul.

I managed to get one for FHP at 95p a sq meter.

[Booche]

Pm Sent Paul

[NKR]

Well most storage units use feet so thats 39.3 x 9.8 so pretty much 380 sq ft for 260+vat.

The cheapest quote I've had for a large storage unit was for only 225 sq ft which was just under £300 but does have power and lights.

Not a bad price really, I've looked long and hard for a cheaper solution but yet to find one, I know of someone else who had a fantastic unit for half what I was quoted, couldn't find
one myself though!

Your calculations are not correct for the conversion to sq.ft. its 36 sq.m. so multiply by 10.7639, which is 388 sq.ft. once rounded.

You are therefore looking at £3,380 per annum and that equates to £8.71 per sq.ft.

What do you mean its got lighting but not its own electricity?
Is it part of a wider estate and does the rent include any service charges?
Are you looking at an FRI lease or internal repairing?
Have you checked the Rateable Value and therefore the Business Rates.
If youa re being offered a 54 act protected lease take a short term as you have protected occupation. No point commiting to these things long term unless you are going to see a rent free period for doing so.

£8.71 is not far off our short term tenancy rates on brand new kit, which has power, etc and is Internal Repairing Leases and inclusive of estates charge. If its a tatty old unit its a bit steep.

[DeckstarDeluxe]

380sq ft is a ballpark figure and pretty close considering I don't have a calculator to hand (though I have just remembered theres one on Windows!).

To be fair the not having electricity is a let down. The reason I moved recently was so I did have access to electricity 24/7 which is important if your hiring out equipment (and your unit is secure enough so it doesn't really matter if people know whats in there).

Most garages aren't much (if any) bigger than 19x9ft so I think while it might seem expensive at first glance isn't actually that bad of a deal.