Consolidation on the way for self-storage industry
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Consolidation and the prospect of takeovers loom large for Australia’s self-storage sector as it emerges from COVID-19 with high occupancy rates and a favourable outlook, according to industry leaders and analysts.
National Storage managing director Andrew Catsoulis.
Michelle Smith
Major players have been fighting tooth and nail for new sites and industry ascendancy following a tumultuous 2020, when market leader National Storage was the target of a failed three-way takeover battle that led to rival Abacus holding 9.9 per cent of its shares.
“It’s inevitable we’ll see more consolidation of a fragmented market,” Andrew Parsons, executive director of Resolution Capital, told
Leaving growth? Don’t get caught by value traps when value investing
Mitchell Lawler | March 5, 2021 5:02pm |
More on: Image Source: Getty Images
You might have noticed recent downward pressure on equity markets. One step further, you may have picked up on the downright obliteration of many riskier growth shares, such as the technology sector.
The S&P/ASX All Technology Index (ASX: XTX) has fallen over 13% in the last month. No doubt interest is increasing in the classic Ben Graham/Warren Buffett ‘value investing‘ approach.
Due to bond yields rising (which if you’re interested in that – have a look at this article), the market is beginning to make the cyclical shift into value. The reason partly being high risk just isn’t as appealing in a high-interest rate environment.
Storage King unveils rebrand via The Garden Agency
March 2, 2021 10:52
Self-storage company Storage King has unveiled a full rebrand which includes a refresh of its logo, as well as a new brand positioning: ‘The kings of storage, moving & more’.
Storage King has been in the market for 22 years and has over 180 locations in Australia and New Zealand, and CEO Michael Tate said the refresh and new tagline was about positioning the business for a customer-focused future.
“The concept of making the customer the centre of everything we do is a strategic shift. The brand refresh helps this by bringing something new to our staff, our owners, and ultimately our customers,” he said.
EG adds Brisbane industrial estate to diversified fund
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EG paid $32 million for the 2.4-hectare estate at 140 Wecker Road in Mansfield. The property was acquired for EGâs Australian Core Enhanced Fund, which targets investments in the office, retail and industrial sector offering higher returns through repositioning assets.
The multi-tenanted industrial estate acquired by EG for its ACE Fund. Â
It is the fifth property acquired for the ACE Fund. In December, EG paid $48.75 million for a Bunnings warehouse in Rockdale near Sydney Airport on a yield of 5.4 per cent.
The Wecker Road property was sold to EG by Brisbane-based investment company Pacific Properties. Pacific developed the site into 24 office/warehouse units ranging in size from 200 to 2000 square metres.
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11AM; A three car crash was reported at 10.45am on Monday morning near Storage King, 522 Yaamba Rd, Norman Gardens.
Reports from the scene indicate up to 10 patients were involved and all self extricated.
It is understood one 33 year-old woman had a leg laceration and hit her head.
Two persons were transported to Rockhampton Hospital via ambulance.
The accident is not blocking traffic.
It was been reported the vehicles are on the median strip. north rockhampton crash