Stor-Age flourishes as people need more space to keep their things
The board anticipates its dividend growing about 5%-6% for the financial year end-March
Self-storage property fund Stor-Age is flourishing amid high inflation worldwide, interest-rate hikes and the energy crisis in Europe. That is because its business model is underpinned by demand from people moving or in need of storage after life-changing events, such as death, separation, downsizing, moving and emigration.
“In addition, the hybrid working model, new customer adoption, greater levels of mobility, micro-living, the growth of online retailers and protracted demand from existing customers renting for longer periods continues to underpin demand and higher occupancy levels,” the company said on Tuesday in its interim results...
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