National storage in $21.6m deal
ASX — LISTED self-storage provider National Storage has snapped up Robina Storage for $21.6 million, as the company expands its presence across Australia and New Zealand.
The 950-unit centre, located on a 1ha block at 177 Scottsdale Drive, was sold by Down To The Wire, linked to Anthony Tippett.
National Storage managing director Andrew Catsoulis said the acquisition takes the com- pany to six storage centres on the Gold Coast.
“Robina is a high-quality centre that comprises more than 950 internal and external storage units offering a range of sizes,” he said.
“It offers convenient, secure storage in a modern, purposebuilt facility. The centre also offers a range of moving supplies and services to help make moving easy.”
Mr Catsoulis said the acquisition also has a development upside, with 3500sq m of additional vacant hardstand storage space. “As we integrate the Robina centre onto the National Storage management platform we will assess the further development potential of the site, undertake a feasibility for future development then make a formal decision on the best way to maximise the additional development potential offered by this land.”
He said the company continues to look for other “high quality” acquisitions in Australia and New Zealand.
The Robina centre deal settled last month.