Valuations
A typical concern of self storage owners is the freehold property worth. While this used to encompass just its real assets (land, buildings, site improvements, fittings and fixtures, etc) and its notional leasehold or business value elements, it now also needs to include its “digital real estate”. This has been defined as website names, social […]
A typical going concern self storage in Australia and New Zealand comprises the overall freehold property worth including its real assets (land, buildings, site improvements. infrastructure, fittings and fixtures) and its notional leasehold or “business” value element. In recent times the growing adoption of leasehold interests has occurred as operators and owners address the issues […]
The Global Financial Crisis led to a dearth of transaction evidence in the traditional real estate market which has become less acute in recent times, changing for the better generally since late 2011. As the number and consistency of property transactions increases through 2015 and beyond, and despite the current uncertain economic and political climate […]
The second Self Storage Expo Asia was held in Hong Kong on 26-27 March 2014 following the launch of the Association last year. The Conference was host to more than 120 people from Asia and Japan and also included attendees from as far afield as Canada, the US, India, Bahrain, Europe and South America. Australia […]
Introduction Malcolm wrote this personal high-level overview of the Australasian self storage market (“A Valuer’s Commentary”) to the 2012 SSAA Almanac. It reflected on issues that had affected the industry through the year and hopefully provided general information, market context and food for thought to members. A repeat at the end of this year is […]
The Reserve Bank’s last reduction in the official cash rate is, amongst other things, recognition of the multi-speed economy affecting Australian business and its customers. The uncertainty created by the GFC and its aftermath has included the withdrawal and tightening-up of traditional financing and credit sources over time by the major banks to the property and […]
It’s of continuing concern to me that having just valued another provincial (smaller scale) self storage facility operated by a local estate agent, I have once again been confronted with management that is unhelpful, reactive and lacking focus, using reporting tools that are simplistic and too high-level, and by agency staff themselves who are removed […]
In quite a few conversations I’ve had with clients and individual bankers around the country recently it is apparent that the major banks are again confirming self storage’s risk profile and ongoing business prospects as something they would like to finance, in stark contrast to their opinions of the industry 6 to 12 months ago. […]
Over the last several months I have needed to speak with major Banks in all of our capital cities regarding various self storage loan facilities coming due for refinance. On each occasion, it was apparent that most of the banking people I spoke with have little understanding of self storage. At a recent Self Storage […]
I recently held a phone conversation with a major Bank property officer. He couldn’t understand why adopting an established yield return per square metre, on a strongly performing and “proven” operator could be transferred to that facility’s next stage. Whilst the overall unit mix would of course change, including the addition of many more ground […]
