Self-storage proves a winner for Stor-Age
Humans are hoarders and can’t let go, not even in a recession. Which is great for self-storage company Stor-Age
Unlike most of its listed property peers, which are reporting a pandemic-induced rise in vacancies and falling rentals, Stor-Age — the JSE’s only self-storage company — is still seeing solid demand for its products. In fact, inquiries from people looking for a place to stash their goods have increased by about 10% year-on-year since May 1, when less stringent lockdown restrictions took effect.
The company has also experienced a gain in overall take-up rates over the past seven weeks (there were more move-ins than move-outs).