This article is from the Australian Property Journal archive
ASX-listed National Storage REIT has purchased a South Melbourne asset for $12.5 million, to be funded from its debt facility.
The site comprises a four-level building featuring 725 units over 4,800sqm of net lettable area, as well as a telecommunications tower, which will generate income for NSR.
The building also includes apartments on the upper levels, which are not part of the acquisition.
The site will be known as National Storage South Wharf and is being acquired to complement NSR’s existing South Melbourne and Port Melbourne centres given the high level of demand for storage, National Storage said.
It will be National Storage’s 26th Melbourne centre.
Australian Property Journal
