Colliers International appointed to sell Southside Self Storage south of Perth
The 204-unit facility, which has been listed for sale on a walk-in basis through Colliers International, had an occupancy rate of 82.3 per cent in June.
Selling agent Greg O'Meara said the monthly leases diluted the storage sector’s occupancy risk but also made it a specialty area in the commercial property market.
“Self-storage facilities differ from traditional property investments in that they appeal to investors who understand the business and may also want to have some involvement in its day-to-day running,” he said.
Built in 2015 the 2,759sqm building has two levels of storage units and a well-appointed office and reception area.
The storage units can be accessed between 6am and 7pm but Mr O'Meara said the hours could be extended by a new owner. The property’s security features include security cameras and CCTV monitoring, perimeter fencing, electronic gates and internal sensor lights.
Mr O'Meara said the facility was also well-positioned to service storage demand in an area earmarked for high population growth.
“Forrestdale Business Park is living up to the planning goal of being a key employment centre in Perth’s south east corridor and is helping to strengthen Armadale’s role as a strategic centre where people can live and work in the same area,” he said.
“Demand for household storage from residents and demand from the business park and its surrounds is expected to generate a steady requirement for short and longer-term storage unit leases.”