Safestore says no 'noticeable' impact yet from Covid-19

The company said it is monitoring the ongoing situation closely. While its performance is correlated in part to GDP, it has "a track record of resilience in economic downturn".

"Safestore is well-capitalised with a strong balance sheet and significant headroom under its current debt facilities with none due for renewal until 2023 at the earliest."

Its stores in Paris and Barcelona are either closed or operating under certain restrictions after the cities were put on lockdown. Safestore said it continues to earn revenue in these stores but customer move-ins and move-outs have fallen.

"The company will continue to update the market as necessary."