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Kennards Self Storage News & Updates

Posts by Sam Kennard

Genius!! This Entrepreneur decides to blend new self storage centre and a micro-brewery

B9316140132Z_1_20150205185426_000_GJQ9SIJKD_1-0What else would you want after a hard day moving your stuff into storage. A nice cold lager, of course!

In the Colorado neighbourhood of Fort Collins, property developer Stan Scott has conceived and submitted a plan to develop a self storage centre of a 80,000 to 100,000 square feet co-located with a micro-brewery. The plan was submitted with the local authority in September 2014

The self storage centre will have both climate controlled space and non-climate controlled drive up spaces.

What an inspired idea which we hope will be enjoyed by many.

To read more click here

Strong Fundamentals Continue in U.S. Self Storage Sector

Kennards PenrithThe latest business briefing from Cushman and Wakefield on the state of the U.S. Self Storage Industry reveals robust business fundamentals and a continued strengthening in investor appetite.

Notable observations in the report:

• Average Capitalisation Rates have now gone below 6%, and were 5.9% for second half of 2014. This is a 22 basis point improvement on first half.

• Capitalisation Rates peaked in 2009 at 8.55%, and are now 243 basis points lower.

• Investors continue to be discerning about asset quality with ‘Class A’ self storage facilities seeing an average capitalisation rate of 5.5%, while ‘Class B’ is at 6.4% and ‘Class C’ 7.5%.

• Transaction volume is set to exceed $3 billion in 2014.

To read the full Cushman and Wakefield Storage Briefing Click Here.

Self Storage Finance in the Australia Market Place

Kennards Self Storage MaribyrnongThe self storage industry in Australia has grown to be in reach of most of Australia’s population.

The paradox of Australian demographics is that despite the country’s enormous land area (7,692,024 square kilometres) and a modest population of 23.5 million people, Australia is actually one of the most urbanised populations in the world. 89% of Australia’s population live in urban areas and is ranked 17th on the ladder. It is mostly only beaten by city or island states such as Singapore, Bermuda, Hong Kong and Cayman Islands.

It is little wonder then that self storage has emerged and prospered so well in Australia. Globally, the self storage idea owes its origins to the entrepreneurs, in the U.S.A.. Canada quickly followed with Australia being the third to embrace the concept.

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Self Storage Price Comparison – How does storage compare to renting a bedroom?

for rentMany people have never used self storage in their life. When asked the question about how much self storage might cost, the guesses vary wildly, from well under the market price to above the market storage price.

When comparing self storage prices it can now be easily referenced against the price of a bedroom. The most popular size storage room (3M x3M) is very similar to an average bedroom. The emergence of online markets for renting out a spare bedroom provides a quick reference point for comparison.

The leading online market place for spare rooms is www.flatmates.com.au. Here people can find or rent out a room in neighbourhoods all over Australia.

Having a quick check at the possible weekly rent for a spare room will reveal how expensive it is to use your spare room for storage.

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Construction Commences for Kennards New Storage centre in Mittagong

2Kennards Self Storage MittagongKennards Self Storage has commenced construction on a new $4 million Self Storage Centre in Mittagong.

The company secured the property in 2012 and has since successfully gained approval from Wingecarribee Council.

The development will be undertaken in stages. When complete it will boast 550 storage spaces and over 6,000 square metres of rentable space.

Kennards were surprised to learn that Wingecarribee Council were about to list the properties small cottage as a place of heritage importance. In response, Kennards collaborated with Council, changed design and have re-used the cottage in the plans.

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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).

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Infamous Self Storage Property from Silence of the Lambs to be Sold

silence of the lambsIn a gripping scene of Silence of the Lambs, FBI trainee Clarice Starling, played by Jodie Foster, seeking clues to resolve the capture of a serial killer (known as Buffalo Bill) visits Your Self Storage to find a severed head. The clue leads to the deeper involvement of Hannibal Lecter in the case to assist profile the murderer.

It seems that Your Self Storage actually exists as an operating storage business in a large multi storey warehouse in Pittsburg, and is about to be sold at auction.

It is confidently assumed that no more grim evidence of a Buffalo Bills crimes exist in the building.

Silence of the a Lambs was filmed in 1990 and released the following year.

The property will be auctioned on April 24th.

Read more: ‘Silence of the Lambs’ film site in Point Breeze for sale

Author: Sam Kennard, Managing Director, Kennards Self Storage

Kennards Mobile Site Goes Live!

28137-find-your-spaceKennards Self Storage has now launched its web site specifically for mobile phones.

The functionality and user-experience has been overhauled to provide an elegant, friendly and fast service to people using smaller phones.

Smart phones with location services enabled will quickly find the nearest Kennards Self Storage centre and with another touch or two the centre can be easily called or a real-time quote provided.

The appeal of the new mobile site has been proven with immediate strong usage and reservation rates.

To have a look check our Australian mobile web site: www.kss.com.au (on your smart phone)

Or New Zealand go here: www.kennards.co.nz

Author: Sam Kennard