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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 2020

Stor-Age Property REIT

Fund executives: Gavin Lucas, Steven Horton and Stephen Lucas
Listing date: 2015
Group established: 2006
Share code: SSS
JSE sector: Speciality REITs
Structure: Fully integrated and internally managed REIT
Financial year-end: March
Number of properties: 71
Total property value: R7.3 billion
Debt as a % of property assets: 26.7%
Hedging of debt: 85.5% hedged on net debt basis
Total GLA: 448 600 m²
Average property size: SA: 7 300 m² +
UK:  3 950 m² +
Total number of tenants: 36 800 +
Closing rental rate: R108.0/m² (SA); £21.22/sqf (UK)
Portfolio occupancy: 86.0% (SA - 86.2%; UK - 85.0%)
Target occupancy: 90%
Geographical representation: SA: JHB, PTA, CT, DBN, PE and BFN
UK: Portfolio bias towards the South and South East 

Development Pipeline

Number of properties: 8
Estimated GLA to be developed : c. 53 000 m² +
Estimated development cost: c. R740 million +