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Australian Storage REIT News – July 2014

National Storage (NSR)

National Storage is Australia’s only pure self storage REIT on the ASX. It has a portfolio valuation last reported of $278 million.

NSR listed on December 18th, 2013 at $0.98, last $1.29 (high $1.35).

The first 6 months results yet to be announced. Distribution guidance was provided on June 24th stating each security would receive $3.8c which is 7.7% of the $0.98c list price (compared with 8% forecast in the 2013 prospectus for 2014 calendar year).

The company Statement accompanying this guidance said “Retail trading conditions have been subdued”. NSR have been aggressive in growth acquiring 9 additional properties since listing.

Abacus Property Group (ABP)

Abacus is a diversified real estate group with $395 million is self storage assets. This represents 30% of their asset sector mix, by value.

ABP last traded at $2.59 (52 week high $2.59).

Abacus have acquired 2 additional self storage properties this financial year.

The Abacus 2014 half year report states the 49 property portfolio has occupancy of 84.1% compared to 83.5% 6 months earlier.

Average rental per square metre improved 5.9% to $251 per annum (49 properties in 2013, 47 properties in 2013).

Note: Comparative data of occupancy and rent does not adjust for acquisitions or disposals.

Author: Sam Kennard, Managaing Director, Kennards Self Storage

Sam Kennard

Sam joined the Family Self Storage Business in 1991. He was appointed Managing Director in late 1994. In that time Kennards Self Storage has grown from 8 locations to over 95 today.

The company is an active and specialised developer of property, focussing on expanding the Kennards Self Storage portfolio in Australia and New Zealand.

Today, Kennards Self Storage is the market leading Self Storage Brand and industry innovator and employs over 230 people in Australia and New Zealand. The company remains a privately owned and family run business.


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