Fund Fact Sheet
Stor-Age is a highly
Stor-Age’s objective is to deliver an attractive income stream from a portfolio of
* As at 31 March 2023
Stor-Age Property REIT |
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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: | 97 | ||
Total property value: | R16.2 billion1 | ||
Debt as a % of property assets: | 31.9% | ||
Hedging of debt: | 75%+ hedged on net debt basis | ||
Total GLA: | 567 000 m² | ||
Average property size: | SA: 7 300 m² + | ||
UK: 3 950 m² + | |||
Total number of tenants: | 49 600 + | ||
Closing rental rate: | R135.5/m² (SA); £26.0/sqf (UK)² | ||
Portfolio occupancy (same store): | 90.6% (SA) 83.9% (UK) | ||
Target occupancy: | 90.0% | ||
Geographical representation: | SA: JHB, PTA, CT, DBN, PE and BFN | ||
UK: Portfolio bias towards the South and South East | |||
Development Pipeline |
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Number of properties: | 17 | ||
Estimated GLA to be developed : | c. 66 000 m² + | ||
Estimated development cost: | c. R213 million (SA) c. £30.2 million (UK) |
1 Includes 100% of trading properties held in JVs and managed by the Group
2 UK rental quoted on an annual basis