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 September 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: 63
Total property value: R5.3 billion
Debt as a % of property assets: 17.6%
Hedging of debt: 88.4% net debt hedged
Total GLA: 414 000 m²
Average property size: SA: 7 300 m² +
UK:  4 070 m² +
Total number of tenants: 30 600 +
Average rental rate: R93.50/m² (SA); £21.46/sqf (UK)
Portfolio occupancy: 83.5% (SA); 81.2% (UK)
Target occupancy: 90%
Geographical representation: SA: JHB, PTA, CT, DBN, PE & BFN
UK: Portfolio bias towards the South and South East 

Highlights of September 2018 Results (Interims FY2019)

  30 Sep 2018 30 Sep 2017 Increase
Distributable earnings (R'millions)
172.8
30 Sep 2018172.8
133.1
30 Sep 2017133.1
29.8%
Increase29.8%
Dividend per share (cents)
51.30
30 Sep 201851.30
47.02
30 Sep 201747.02
9.1%
Increase9.1%

Development Pipeline

Number of properties: 10
Estimated GLA to be developed : c. 70 500 m²
Estimated development value: c. R1 billion