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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 31 March 2023

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: 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

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