Global self storage giant invests again in Australia
EXCLUSIVE
Singapore-based Warburg Pincus-backed StorHub has added another Australian asset to its book, this time in Melbourne’s south east.
The office/warehouse turned self storage facility at 316 Governor Road, Braeside (pictured, top, prior to the repurposing), collected $8.203 million in a deal agreed in March, settling Monday.
On 4630 square metres, it contains 2921 sqm accessed via four container height roller doors. The internal height is 9.5 metres.
A Telstra antenna sits near the south east corner of the holding.
The south west boundary meanwhile abuts Fraser Property Industrial’s 23 hectare Braeside Industrial Estate, more specifically, 75-79 Canterbury Rd, occupied by IVE Group since it was developed in 2019 but vacant from next year (and for lease via the landlord’s inhouse agency division).
Led locally by ex-Kennards executive Simon DeGaris, entering the Australian market last July, 21 year old StorHub has a c$460m budget to spend on local product.
It has bought five other assets including in Melbourne, a prominent warehouse converted office at the border of Clifton Hill and Collingwood – which set it back $14.3m in March.
Gray Johnson’s Brett Simpson was the agent (story continues below).
Braeside is 25 kilometres from Melbourne’s CBD.
StorHub boosts portfolio
In Sydney, StorHub has acquired properties in Alexandria, Miranda and Rouse Hill.
It has also bought in Canberra and intends to invest in Brisbane.
Amalgamating the Braeside property – which was previously reported as selling for $4m in 2014 – it now controls nearly 60,000 sqm in Australia.
Globally it operates from 17 cities – a gross floor area circling 660,000 sqm.
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