Stor-Age Property REIT (JSE:SSS)
Stor-Age Property REIT Limited (JSE:SSS) is a fully integrated and internally managed REIT. The business was started in 2005 by Stor-Age Property Holdings to own, acquire, develop and manage prime self storage assets throughout South Africa’s major metropolitan cities.
In 2005 the executive management team identified a market opportunity for the establishment of a highly specialised, niche self storage property fund. This led to Stor-Age Property Holdings’ development of their first self storage property in Edgemead, Cape Town in 2006.
In 2007 Stor-Age conducted the first of two in-depth nationwide self storage studies on the South African self storage market, the second of which was completed in March 2014. The studies were based on practices and methodologies used internationally in more developed self storage markets. The results from both studies have formed the basis of the medium to long term strategic planning for the Company.
The introduction of REIT legislation in South Africa in 2013 aligned the listed property sector of the JSE with the REIT sectors of more than 25 countries, facilitating the comparison of and inclusion of JSE REITs in international indices. The REIT structure is an international standard for property investment, where a tax dispensation ensures flow through of net property income after expenses and interest.