This article is from the Australian Property Journal archive
THE National Storage REIT has entered Dunedin in New Zealand with the acquisition of two freehold storage centres.
The centre at Kaikorai comprises 1,100 storage and commercial units in a mix of ranch style and multi-storey buildings across 18,500 sqm of net lettable area. The Gardens centre, located in the North East Valley, comprises 450 units over 2,300 sqm of net lettable area in a one level complex.
The centres are set to be acquired for NZ$14 million from Roslyn Storage Limited with settlement expected in late March 2017.
“We are thrilled to be expanding into the second largest city on the South Island, with two quality freehold storage centres in Dunedin,” managing director Andrew Catsoulis said.
“This acquisition continues our expansion into New Zealand, driving efficiencies across our operational platform. These centres are full of character with a number of opportunities to add value once integrated into the National Storage platform,” he added.
Australian Property Journal
