July 31, 2012 7:00 PM
There is an upswing in the self storage industry in South Africa. Taking the spotlight front and center is Stor-Age Self Storage. Stor-Age announced that it will begin building a new self storage facility in Pinehurst, which is the third that they have announced this year.
Pinehurst is a residential township in Cape Town’s northern suburbs. The facility will be in a prime location because it is located right next to the brand new Curro Private School. Also, the facility will be only 3 kilometers from the regional Cape Gate Retail Centre. It will be easily accessible because it is in a high-traffic area.
The two-story facility will have over 700 self storage units. They will range in size from 3-square meters up to 30-square meters.
Stor-Age CEO, Gavin Lucas, commented, “We’ve worked closely with Garden Cities for the last 12 months in order to bring this property to the market. It’s an exceptional location which demonstrates strong property fundamentals. The development of a high quality self storage offering within a mixed-use node of a greater residential township development is still a new concept within the South African context. The development will add significant value to the Pinehurst suburb and its residents.”
A mere ten days ago, Stor-Age announced the opening of another facility. It is in Centurion. Construction was started in November of 2011 and the building was finished on time and within the budget.
It has 700 units similar in size to what the facility in Pinehurst will have. The facility is on a corner property that is visible from a major highway in the neighborhood.
Three months ago back in April, Stor-Age opened a facility in Table View. It is situated at one of only two main entrance points into the West Coast suburbs.
This building is four-stories. It has over 600 units ranging in size from 3 to 30 square meters. This is one of Stor-Age’s leading properties because it is in a prime location. It also is an attractive, modern building.
Stor-Age is a self storage business to keep your eye on. The company now has facilities in 4 cities. It has 13 facilities in operation and has plans for six more developments in the future. It has a good business model and will continue expanding its operations in South Africa.
“Stor-Age Announces Development in Pinehurst.” Stor-Age Press Release; 30 July 2012.
“Stor-Age Announces Opening of Centurion Store.” Sto-Age Press Release; 23 July 2012.
“Stor-Age Announces Opening of Table View Store.” Stor-Age Press Release; 24 May 2012.