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Storage company expands operations

26 Oct 2010

Cape Town based Stor-Age, reportedly the largest self-storage company in South Africa, has acquired The Storage People (TSP) in Midrand, Johannesburg through financing from Nedbank Corporate Property Finance. The deal is expected to be finalised during November 2010.

Situated in Allandale Road, Midrand TSP consists of more than 7000m² of self-storage space and 400 units. It was developed during 2007 and trades at an occupancy level of 90%+.

Stor-Age CEO Gavin Lucas commented, "We believe the store will complement our existing portfolio and will allow us to significantly grow our market share in the Gauteng region."

For more information on Stor-Age, go to www.stor-age.co.za.