NATIONAL STORAGE PACKS OUT ITS OFFERING

Written on the 15 March 2017 by Business News Australia

NATIONAL STORAGE PACKS OUT ITS OFFERING

NATIONAL Storage REIT (ASX: NSR) has announced its plans to acquire a new prime location at Bundall, adjacent to the former Masters Hardware store.

The group, headed by managing director Andrew Catsoulis, has entered arrangements with Leyshon Group to jointly develop the Gold Coast site which boasts 6,900sqm of retail and warehouse space.

National Storage plans to invest 25 per cent into the development of the site while Leyshon contributes the lion's share of 75 per cent.

Catsoulis says the opportunity to acquire the site comes at the right time, as the company seeks to pack more of an offering into the Gold Coast market.

"We have been seeking the right site to expand our footprint on the Gold Coast for some time now and we are delighted to have secured such a desirable site," says Catsoulis.

"The site has direct exposure to substantial passing traffic, is in close proximity to established residential and commercial drivers of storage demand and is in an area which we have identified as underserviced for self-storage."

According to Catsoulis, the site's existing retail component will create an income stream to offset the costs of development in the short term.

National Storage will manage its development, which is set to begin following settlement from previous owners the Vivlios Group of Companies.

Following its completion, the site will be added to a portfolio of four other National Storage centres currently operating on the Gold Coast.

Catsoulis will be discussing this latest achievement in addition to many of his other career highlights at the Business News Australia Breakfast Series on March 26.

To hear how Catsoulis built National Storage to a business with almost $1 billion inassets under management since its public listing in 2013, you can click here to book your tickets to the event.


Author: Business News Australia

Latest News

AGED CARE OPERATOR AVEO MAY FACE CLASS ACTION FROM RESIDENTS

MADDENS Lawyers is considering a class action against retirement village operator Aveo after a Four Corners-Fairfax i...

REA TO COP AN IMPAIRMENT HIT OF $180 MILLION

ONLINE real estate advertiser REA Group (ASX: REA) says it expects to take a non-cash impairment hit of $180 milli...

LENDERS TAKE CONTROL OF SLATER AND GORDON AS MD ANDREW GRECH STEPS DOWN

SLATER and Gordon boss Andrew Grech has stepped down and a board cleanout is underway as part of a major restructu...

BARTERCARD TAPS INTO FRENCH MARKET

BARTERCARD has taken its first steps into the French market as its listed parent BPS Technology (ASX: BPS) expands it...

Related News

AGED CARE OPERATOR AVEO MAY FACE CLASS ACTION FROM RESIDENTS

MADDENS Lawyers is considering a class action against retirement village operator Aveo after a Four Corners-Fairfax i...

BARTERCARD TAPS INTO FRENCH MARKET

BARTERCARD has taken its first steps into the French market as its listed parent BPS Technology (ASX: BPS) expands it...

CAIRNS COUPLE DIVE INTO THE SHARK TANK AND CONVINCE FELLOW 'BOATIE' GLEN RICHARDS TO WORK WITH THEM

THEY'RE a husband and wife team with an invention that can help save the Great Barrier Reef, and lives, and Pe...

DOWNER EDI GRABS MORE THAN 50 PER CENT STAKE IN HOSTILE TAKEOVER TARGET SPOTLESS

DOWNER EDI Limited (ASX: DOW) now holds more than 50 per cent of Spotless Group Holdings Limited's (ASX: SPO) sha...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter