Fund Fact Sheet

Stor-Age is a highly specialised JSE listed property fund focused on the fast growing self storage sector, a niche sub-sector of the broader commercial property market.

Stor-Age’s objective is to deliver an attractive income stream from a portfolio of high quality self storage properties with potential for income and capital growth through increasing rentals and occupancy levels, expanding existing properties and acquiring additional self storage properties.

* As at March 2018

Stor-Age Property REIT

Fund executives: Gavin Lucas, Steven Horton & Stephen Lucas
Listing date: 2015
Group established: 2006
Share code: SSS
JSE sector: Speciality REITs
Structure: Fully integrated & internally managed REIT
Financial year-end: March
Number of properties: 50
Total property value: R3.9 billion
Debt as a % of property assets: 16%
Hedging of debt: 100% net debt hedged
Total GLA: 321 000 m²
Average property size: SA: 7 400 m² +
UK:  4 075 m² +
Total number of tenants: 29 500 +
Average rental rate: R91.60/m²
Portfolio occupancy: 84%
Target occupancy: 90%
Geographical representation: SA: JHB, PTA, CT, DBN, PE & BFN
UK: Portfolio bias towards the South East and East

Highlights of March 2018 Results (FY2018)

  31 March 2018 31 March 2017 Increase
Distributable earnings (R'millions)
285.8
31 March 2018285.8
131.1
31 March 2017131.1
118.03%
Increase118.03%
Dividend per share (cents)
97.83
31 March 201897.83
88.05
30 Sep 201688.05
11.11
Increase11.11%
       
  Mar 18 Mar 17 Increase
Occupied space (m²)
265 000
Mar 2018265 000
194 000

36.60%
Average rental rate (R)
91.60
Mar 1891.60

Development Pipeline

Number of properties: 10
Estimated GLA to be developed : c. 70 000 m²
Estimated development value: c. R1 billion