Brisbane-based National Storage continues to build the size of its network of storage businesses, strengthening its market share across Australia, following the recent strategic acquisition of nine centres in New South Wales, Victoria, Queensland and Western Australia.
From 1 July 2006, National Storage will own and operate 45 storage centres around Australia, representing around 219,000 square metres of domestic and commercial storage space and over 25,000 individual storage units.
Mr Peter Greer, Director – Operations for National Storage, said through the expansion, the company had now secured a position of market dominance in Western Australia and Victoria, a position it had already captured in South East Queensland and South Australia.
Commenting on the acquisitions, Mr Greer said the company had purchased a centre at Tweed Heads in Northern New South Wales, two centres in Geelong and a centre in Croydon in Melbourne, while another storage centre was currently being developed in Coolum on Queensland’s Sunshine Coast, bringing National Storage’s complement of centres in that state to 15.
“These properties will be rolled into the APN National Storage Property Trust which, with the addition of the five new properties, will comprise a portfolio of 35 storage centres valued at approximately
$250 million.’
Mr Greer said APN National Storage Property Trust had progressively acquired National Storage centres since it was launched in November 2003, with National Storage entering into long-term lease-back arrangements.
He said the four storage centres in Western Australia were business acquisitions, with National Storage purchasing the business operations of the facilities that were currently locally owned and operated. The four centres have been acquired on a 23-year lease back term and will be rebranded to National Storage.
“As a result, National Storage now has eight centres in Perth, with further consolidation being achieved later this year when we complete the development of another storage centre at suburban Bayswater.”
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“The additional Perth centres realise our efforts to expand the National Storage brand presence in the West, which we see as an important growth market on the back of extraordinary business and residential development in the city in recent years,” Mr Greer said.
He said the Tweed Heads centre was a strategic acquisition to boost the company’s presence on the Gold Coast and areas south.
“Our aim over the next 12 months is to continue to build National Storage’s market position in New South Wales, with a particular focus on Sydney where we currently have one site at Belfield.
“We believe there are considerable opportunities in the city and the addition of further centres within the metropolitan area will consolidate our market position and our ability to respond to the needs of a growing number of national clients,” Mr Greer said.
He said the storage market around Australia continued to gain momentum.
“From the domestic storage perspective, the increasing trend towards apartment living has fuelled the need for additional longer term space for larger items such as cars and boats, while increased mobility continues to drive the short-term market for the storage of household items.
“Combined with our specialised climate-controlled facilities for items such as wine, people are recognising the value and convenience of storage, much in the same way as the United States and the United Kingdom have adopted storage solutions.”
Mr Greer said commercial use of storage was also on the up, with many companies electing to store items such as documents and sales merchandise rather than pay for additional office space at higher commercial leasing rates.
“We have tailored our storage solutions to suit the broadening range of commercial and domestic needs and as a result continue to record healthy growth in occupancy rates and revenues across all our centres.”
National Storage was established in December 2000, following the merger of Stowaway Self Storage, National Mini Storage and Premier Self Storage. The company employs over 100 staff across its network.
