Self storage giant secures maiden Queensland asset


Singapore based StorHub is powering through its $460 million budget for local product snapping up a distribution centre in Brisbane’s outer north after it was offered for lease.

The deal for 16 Mineral Sizer Court, Narangba, is worth $12.45 million.

Vendor Ozprop Capital paid $8.975m in 2019, deriving an income from furniture giant Nick Scali until earlier this year.

StorHub started repurposing it last month.

On 1.14 hectares, the holding includes 2100 square metres of hardstand.

The improvement contains 4968 sqm with a nine metre clearance.

Narangba is about 34 kilometres from the CBD (story continues below).

The Narangba property is surrounded by major businesses.

StorHub arrives in Queensland

The Mineral Sizer Ct deal comes five days since we reported StorHub acquired an office/warehouse converted self storage complex to occupy, in Melbourne’s Braeside, from RF Corval.

Like Narangba, that deal was brokered off-market.

Since the start of last year it bought a property at Clifton Hill, again in the Victorian capital, in Canberra and in Sydney’s Alexandria, Miranda and Rouse Hill.

Backed by Warburg Pincus, the business’ Australian arm, headed by ex-Kennards executive Simon DeGaris, was recently approved to invest some $460m here.

Cushman & Wakefield’s Mitch Taulelei and Morgan Ruig represented Ozprop.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of