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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 March 2020

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: 71
Total property value: R7 billion
Debt as a % of property assets: 30.1%
Hedging of debt: 79.1% hedged on net debt basis
Total GLA: 448 200 m²
Average property size: SA: 7 300 m² +
UK:  3 950 m² +
Total number of tenants: 34 700 +
Closing rental rate: R106.0/m² (SA); £21.22/sqf (UK)
Portfolio occupancy: 83.8% (SA - 85.0%; UK - 78.8%)
Target occupancy: 90%
Geographical representation: SA: JHB, PTA, CT, DBN, PE & BFN
UK: Portfolio bias towards the South and South East 

Highlights of March 2020 Results

  Mar 2020 Mar 2019 Increase
Distributable earnings (R'millions)
452
Mar 2020452
388
Mar 2019388
16.7%
Increase16.7%
Dividend per share (cents)
112.05
Mar 2020112.05
106.68
Mar 2020106.68
5.03%
Increase5.03%

Development Pipeline

Number of properties: 8
Estimated GLA to be developed : c. 53 000 m² +
Estimated development cost: c. R700 million +