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)
Mar 2020452
Mar 2019388
Dividend per share (cents)
Mar 2020112.05
Mar 2020106.68

Development Pipeline

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