StorHub swoops on another Melbourne site
Singapore based StorHub has quietly added another inner city Melbourne site to its portfolio.
The fast growing self storage giant is paying around $20 million, sources say, for the Rogerseller showroom on c3015 square metres at 173-177 Barkly Avenue, Burnley (Google Street View image, top).
Salta is the seller; it paid $14.75m in August, 2019, with plans for a seven level office.
StorHub entered negotiations for it mid-year. Upon receiving vacant possession, the group is expected to extend the existing brick warehouse, then occupy.
Burnley is about five kilometres east of town.
StorHub builds book
Also this year, StorHub has purchased Melbourne sites to occupy at Clifton Hill and Braeside (story continues below).
Last week it announced it was buying three Sydney assets – at Forestville, Homebush and Revesby – for more than $110m.
These add to other holdings in the New South Wales capital acquired since 2022 – at Alexandria, Miranda and Rouse Hill.
StorHub also recently acquired its maiden Brisbane warehouse – at Narangba – and operates out of an ACT facility.
Backed by Warburg Pincus, led locally by ex-Kennards executive Simon DeGaris, the group has a starting c$460m mandate to boost its Australian portfolio.
Subscribe to our newsletter at the bottom of this page.
