Stor-Age Property Reit CEO Gavin Lucas says the company is unlikely to face stern competition in SA from other personalised storage funds because the barriers to entry into the specialised sector are far too high. "We have developed a high-quality management platform, which has effectively made us one of the best e-commerce players in our specialised field," he said. "We also have significant scale with 50 properties worth R3.9bn — R2.5bn of which is in SA and R1.4bn in the UK," Lucas said during the release of the company’s financial results for the year to March. Stor-Age is one of only nine publicly traded self-storage real estate investment trusts in the world. Five of these are in the US, two in the UK and one in Australia.
Stor-Age’s stock has been one of the best performers among JSE-listed real estate stocks in 2018. Its total return including dividends and capital growth was about 4% for the first five months of 2018, while the sector overall had a negative total retu...
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