Stor-Age plans aggressive development rollout
SA’s largest personal storage provider says its assets have been highly defensive in lockdown
Stor-Age Property Reit, the only listed personal storage provider on the JSE, is aggressively rolling out new developments despite the pandemic and an SA economy throttled by poor service delivery and a lack of electricity.
The company has secured a development pipeline of eight sites in SA, worth R685m, while keeping its relative debt levels at 24.1% gearing. The company is focused on the self-storage sector, a niche subsector of the broader commercial property market. It develops, acquires and manages high-profile self-storage properties. ..