Sold by Box Commercial- Airport Storage & Parking
We requested and have just received an independent sales analysis from a specialist self storage valuer for the recent sale of Airport Self Storage at Marcoola.
A copy is available upon application. Call or email to request your copy.
‘Speed dating’ results in sub-normal yield for storage complex
Melbourne, VIC (27 November 2017) – FOR IMMEDIATE RELEASE
A stand-alone Sunshine Coast self-storage complex has been sold after a four-week expression-of-interest campaign described as ‘like speed dating’.
National Storage, one of Australia’s largest self-storage operators, bought Airport Storage and Parking, at 7 & 8-10 Runway Drive, Marcoola in December 2017.
‘I sold my first self-storage complex in 1996 and it’s been years since I’ve see this much interest in a complex,’ Mr Stanley-Turner said. ‘We had more than 50 genuine enquiries during the campaign, which came down to around a dozen inspections. It was a bit like speed dating.’
Average yields in self-storage over the last three years have been around 7% and by my calculation, the yield achieved here is well below that, Mr Stanley-Turner said.
‘The depth of interest shows the strength of the self-storage market. There are quite a few disappointed parties out there,’ Mr Stanley-Turner said. ‘If you’re thinking of selling your complex, there’s no better time.’
Box Commercial sells selected Australian income-producing commercial investment property, with a particular focus on self-storage. Our clients are unit trust managers, syndicators and investment companies, and private individuals. Our services extend to support these clients to sell, lease, acquire or manage their property holdings.
All areas and figures are approximate only. All reasonable steps have been taken to ensure the accuracy of this information, but this does not constitute any representation by us as the vendor’s agent and is provided as a guide only. Purchasers are advised to rely on their own investigations sourced from the vendors records direct or statutory register such as land titles etc.