Welcome to Stor-Age Property Holdings
Stor-Age Property Holdings (“SPH”) is an investment vehicle which promoted the creation of JSE listed Stor-Age Property REIT Ltd (JSE share code: SSS). SPH continues to hold a significant shareholding in Stor-Age Property REIT Ltd
and is its largest shareholder.
SPH identified an opportunity to develop self storage facilities in South Africa in 2005. After a highly successful first development in 2006 of its Edgemead property in Cape Town and the creation of Stor-Age Self Storage to both brand and manage the property, SPH knew that a fantastic market opportunity existed.
The challenge that lay in our path was that the self storage industry in South Africa was still in its infancy, which meant that there was little research data available. These challenges provided a fantastic opportunity.
We set about researching the self storage industry internationally, with visits to the international market leading self storage nations – the USA, Australia and England. During our research we learnt how to conduct a meaningful industry study and this is precisely what we then came back to South Africa and did during 2007. After identifying every single self storage facility that existed in South Africa, we then visited each and gathered information on their respective trading activities. From this research we compiled the first comprehensive self storage research study ever completed on the South African market. Our research study allowed us to position the South African self storage market and its development or lack thereof against the international self storage market. In addition we were invited to share the findings of our research at internationally recognised trade events in 2008.
Based on our research, we wrote an in-depth business plan for the South African market which took account of the current state of the industry, the nature of its development, how the assets were funded and managed, where they were located and the types and styles of self storage developments. Critically the business plan also detailed how we believed the South African self storage industry would develop over the forthcoming decade and how the first round of industry consolidation would take place.