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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 2019

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: 66
Total property value: R6.2 billion
Debt as a % of property assets: 27.3%
Hedging of debt: 93.2% hedged on net debt basis
Total GLA: 429 400 m²
Average property size: SA: 7 200 m² +
UK:  4 100 m² +
Total number of tenants: 33 100 +
Average rental rate: Closing rental rate R102.30/m² (SA); £21.68/sqf (UK)
Portfolio occupancy: 83.7% (SA); 84.2% (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 2019 Results (Interim Results 2020)

  30 Sep 2019 30 Sep 2018 Increase
Distributable earnings (R'millions)
214
30 Sep 2019214
173
30 Sep 2018173
23.7%
Increase23.7%
Dividend per share (cents)
54.89
30 Sep 201954.89
51.30
30 Sep 201851.30
7.0%
Increase7.0%

Development Pipeline

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