Interstate self-storage group secures Melbourne site
Adelaide based Storage Investments Australia has paid $5.9 million for a growth corridor Melbourne block.
The builder, manager and operator of self storage facilities picked up 10-12 Danaher Drive, South Morang (pictured, top), following an off-market campaign.
Just off McDonalds Road, the site spreads 6557 square metres.
A multi-level outlet is planned, expected to open next year.
Joe Brzezek and Daniel Eramo from CBRE with ACTC Property Project Management’s Tony Casey were the agents.
The suburb is about 20 kilometres north east of Melbourne’s CBD in Whittlesea, one of the city’s fastest growing municipalities, home to Donnybrook, Epping North and Wollert.
SIA expands in Melbourne
Elsewhere in Melbourne, the 13 year old SIA operates from complexes at Chirnside Park, Clyde North, Seaford, Sunshine North and Truganina.
It also trades from, amongst other Sydney locations, Minchinbury, St Marys and Wetherhill Park (story continues below).
In Queensland it has an outlet at Springfield, west of Brisbane while in WA, it has facilities at Butler and O’Connor.
“South Morang is an important addition to our strategy, reflecting our vision to build a national portfolio of self-storage facilities and establish ourselves as one of Australia’s largest fund managers focused exclusively on the self-storage sector,” Con Tragakis, SIA chairman, said.
The company is the latest to buy Melbourne sites for self-storage facilities.
Singapore-based Warburg Pincus backed StorHub has arguably been the highest profile, snaring sites in, amongst other suburbs, Braeside and Clifton Hill.
Four months it purchased Burnley’s Rogerseller showroom with plans to build a major complex.
Private Melbourne operator Carl Sachs meanwhile acquired Abbotsford’s ex-Kodak headquarters for an asset of this type, in mid-2023.
It joins in the suburb, Kennards, which bought blocks to expand a facility built into the former Williams Shoes factory on Langridge St.
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