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Case Study Valuation & Advisory Services: Kennards Self Storage Portfolio

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Challenge

The biggest challenge in undertaking this project was arranging inspections in conjunction with the travel restrictions imposed by COVID-19. This made it difficult for the team to inspect each asset as they would have in previous years. To overcome this challenge, our experts briefed the broader Colliers’ Valuation & Advisory Services team who could deploy local valuers to inspect each asset.

Strategy

The team reviewed the trading performance of each facility to ascertain maintainable operational levels along with identifying any potential opportunities for operational efficiencies. Data was benchmarked against the Colliers Self Storage Rating System and internal databases.
As part of the assignment, the team conduct their analysis of each facility on a standalone basis as well as on the basis that it forms part of Kennards Self Storage’s national portfolio.

Services

Colliers is appointed annually to value a tranche of the Kennards Self Storage portfolio for Financial Reporting and First Mortgage Security purposes. In addition, the team conduct a review of land tax liability and analysis of Valuer General land values.

Results

The assignment resulted in valuation uplift across all assets with the team producing a full comprehensive valuation report on each facility ahead of schedule. In addition, the team assisted Kennards Self Storage with submitting Land Tax objections which ultimately led to a reduction in land tax liability.

Testimonial

“The Colliers self storage valuation team, lead by Dylan Adams, have undertaken valuations for our business for a number of years. They have developed a strong capability, understanding and expertise in the sector and are well regarded by industry stakeholders.”

Sam Kennard
CEO
Kennards Self Storage


Related Experts

Dylan Adams

Director | Specialisations | Valuation & Advisory Services

Valuation & Advisory Services

Sydney CBD

As Director of Specialisations, Dylan leads a team of experts to provide the highest quality self-storage valuations, service station valuations and valuations of child care centres and other education infrastructure throughout Australia and New Zealand. Dylan is a certified pracitising valuer, Associate Member of the Australian Property Institute and Member of Royal Institution of Chartered Surveyors. Dylan has extensive experience working with financiers, owners and stakeholders to generate greater outcomes from their property assets.

Self-Storage Valuation Expertise

Dylan has a strong connection to the self-storage industry as a member of the Self Storage Association of Australasia and a thought leader who has elevated industry understanding by creating the Self-Storage Rating System for self-storage investors. Dylan provides reliable and confidential advice to both leading self-storage industry participants and active lenders within the ANZ market having valued the largest individual and portfolio transactions.  

"The Colliers self-storage valuation team, lead by Dylan Adams, have undertaken valuations for our business for a number of years. They have developed a strong capability, understanding and expertise in the sector and are well regarded by industry stakeholders.” Sam Kennard | CEO, Kennards Self Storage.

Service Station Valuation Expertise

Dylan is a trusted advisor within the service station sector. In the last 24 months Dylan and his team have valued in excess of 600 Service Stations totalling over $6 billion in value. They were also previously appointed as the sole real estate valuation advisors to the largest portfolio transaction in Australia's history. Our service station valuation and advisory services include single asset and portfolio assignments, trust requirements, balance sheet compliance, acquisition and disposal due diligence, financing and refinancing, insurance purposes, feasibility studies and legal / expert witness.

Child Care & Education Valuation Expertise

With long lease terms and favourable rent reviews the Australian child care market has been of growing interest to investors who are motivated by a flight to quality assets.  The child care sector has evolved over the last 20 years to become a structured, transparent segment of the services sector. Dylan and his team are commitmented to delivering the highest level of service by providing expert valuation advice on the child care sector. Utilising extensive market knowledge, the team provides wholly independent, reliable and confidential advice and is dedicated to creating long-term professional relationships with clients.

The Specialisations team provide self-storage, service station, child care and other education valuation assignments for market value for the following purposes:

  • First mortgage security;
  • Financial reporting;
  • Disposal due diligence;
  •  Insurance development;
  •  Feasibility studies; and
  •  Rental assessments and rental determinations.
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Emily Quick

Senior Valuer, Specialisations

Valuation & Advisory Services

Sydney CBD

As Senior Valuer of Specialisations, Valuations & Advisory Services, I work directly alongside Dylan Adams, Director of Specialisations.

I specialise in the valuation of freehold and leasehold self-storage facilities, service stations, child care centres and other education infrastructure throughout Australia.

As part of the Specialisations team, I undertake valuation assignments for market value for finance and financial reporting, development, feasibility, disposal due diligence, insurance, family law, rental assessments, and determinations.

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Jack Seymour

Assistant Valuer | Valuations

Valuation & Advisory Services

Sydney CBD

Jack joined Colliers as an Assistant Valuer of Specialisations, for the Valuation & Advisory Services business, in 2021.

Jack assists and undertakes research for his team who specialise in the valuation of freehold and leasehold self-storage facilities, service stations, child care centres and other education infrastructure throughout Australia and New Zealand.

Jack is also studying full-time at the University of Technology Sydney to obtain his Bachelor of Property Economics degree which he will complete in 2022. 

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