StorHub Expands its Footprint in Australia with the Acquisition of Three Prime Self-Storage Facilities in Sydney

Sydney, November 5, 2024 – StorHub Group (“StorHub” or “the Company”), a leading self-storage platform in Asia, today announced its successful acquisition of three prime self-storage facilities in Sydney. Following this transaction, StorHub will have more than 110,000 sqm of GFA and over 8,500 storage units across Australia, with the total estimated end value of the portfolio at over A$ 420 million, showcasing its rapid growth since its market entry earlier this year.

Valued at over A$ 110 million, this acquisition of the three facilities marks one of the largest transactions in Australia’s self-storage industry in recent years.

The newly acquired facilities are strategically located in key areas of Sydney: Homebush, Forestville, and Revesby. Collectively, they offer more than 18,000 sqm of Net Lettable Area (NLA) and nearly 2,000 storage units. The Homebush site, situated at 201 Parramatta Road, features an NLA of 5,648 sqm across 698 units. The Forestville facility at 11 Cook Street offers 5,170 sqm of NLA, accommodating 667 units, and the Revesby facility at 128 Milperra Road provides 621 storage units within a 6,354 sqm NLA. Developed and owned by Trumen and Norman Property Partners and currently managed by Wilson Storage, these facilities will be transitioned to be under StorHub’s management and branding going forward.

Earlier this year, StorHub officially launched its business in Australia with five quality seed assets. Following this and earlier acquisitions, StorHub will have a total of 11 facilities in Sydney, Melbourne, and Brisbane – 4 in operation and 7 to be opened within the next couple of years. This strategic move in Australia is part of StorHub's pan-regional growth strategy.

Raju Ruparelia, StorHub Group CEO, said, “The Australian market presents significant opportunities for StorHub, driven by strong population growth, rising housing costs in metropolitan areas, and the increasing need for decluttering in the hybrid work environment post-pandemic. Under Simon DeGaris' leadership and direction, we've built an experienced local team and have been able to acquire attractive, well-located properties in tier 1 cities and established ourselves as a rapidly growing new entrant in Australia with a unique set of value propositions. Leveraging our strong track record of serving 61,000 customers in the region, we are committed to providing innovative, secure, and reliable storage solutions and unparalleled service that meet the diverse needs of households and enterprises in the market.”

As StorHub broadens its reach in Australia, the Company is leveraging its technology platform to elevate customer experience. StorHub is committed to providing best-in-class service, including 24/7 accessible, modern storage facilities that are conveniently located, safe, and secure. In addition to traditional self-storage options, StorHub offers tailored solutions and value-add services for small-and medium-sized enterprises (SMEs) that include co-working spaces, free Wi-Fi, and printing services.

Simon DeGaris, CEO of StorHub Australia, commented, “We are pleased to incorporate these well-located self-storage facilities into our portfolio, enabling us to offer reliable and secure storage solutions to a broader customer base. With a talented team on the ground, we believe StorHub is well-positioned to accelerate its growth trajectory in Australia.”

The transaction was brokered by Four Leaves Property.

About StorHub Group

StorHub Group is a leading self-storage platform in Asia with operations across key gateway cities in the Asia Pacific region. Founded in 2019, StorHub Group currently owns and manages more than 490 properties in 15 cities across 7 countries, including key markets such as Australia, Japan, Malaysia, Singapore, South Korea, and Greater China. The Group’s facilities span over 7 million sq. ft of GFA, encompassing 88,000 storage units. To date, StorHub Group has serviced nearly 61,000 customers and holds portfolios with a GAV of US$1.7 billion. StorHub offers individuals and businesses a range of reliable and secure storage solutions to resolve storage challenges at home or work. For more information visit http://www.storhub.com

Media Contact

Lisa Liang, SVP, Asia Head of Marketing and Communications

Lisa.liang@warburgpincus.com