Stor-Age Self Storage Press Release
Stor-Age self storage Press Release
  26 August 2013
Cape Town
Stor-Age Announces the Acquisition of leading Port Elizabeth Self Storage Property
Stor-Age announced today that it will be entering the Port Elizabeth market with the acquisition of Port Elizabeth's leading self storage property. The introduction of Stor-Age to the Port Elizabeth market will see Stor-Age trading in all six of South Africa’s main cities.

The property, to be branded and managed by Stor-Age, was acquired from Rent-A-Store in a private transaction negotiated directly between both parties’ senior management teams. According to Rent-A-Store CEO Andre Toich, the disposal by Rent-A-Store of their Eastern Cape interests forms part of their strategic intent to focus their efforts entirely on the Gauteng market going forward.

Situated in a prime location, Stor-Age Green Bushes will enjoy fantastic exposure to the busy Old Cape road and is situated within close proximity to the new, to be developed, Bay West Mall. The purpose-built facility offers 10 500 m² + of space and comprises upwards of 700 self storage units ranging in size from 9 to 27 m². The Green Bushes facility was completed in 2010 and trades at an occupancy level of 90%+.

Stor-Age CEO Gavin Lucas commented: “High quality self storage assets which display the correct fundamentals such as this one acquired from Rent-A-Store are in scarce supply across the South African market. This property was very well developed and managed over the last few years. In line with our strategy of having a national presence in all six South African cities, when this opportunity arose we moved swiftly to take advantage of it.”

Facts & Figures

  • Stor-Age enters Port Elizabeth market with acquisition of Rent-A-Store PE property
  • 700 + self storage units
  • Situated in close proximity to the new, to be developed, Bay West Mall
  • 90% + trading occupancy
  • Total lettable area of over 10,500 m² +

For further information, please contact:
Stor-Age Self Storage

Media and investor relations

Brandon Joscelyne, +27 (0) 21 559 8128

Stor-Age Self Storage:
Stor-Age is the largest and leading self storage company in South Africa. Stor-Age features a portfolio of premium grade self storage facilities in operation and under development throughout South Africa.

The corporate office of Stor-Age is based in Cape Town, South Africa.

For more information on Stor-Age, visit www.stor-age.co.za



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1 Southdale Road, Edgemead, Cape Town, 7441, South Africa
T: +27 (0)21 559 8128      F: +27 (0)21 559 8578
W: www.stor-age.co.za
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