Proudly sponsored by Reach Local
In December 2013, National Storage launched Australia’s first successful initial public offering (IPO) in the self-storage sector. National Storage Real Estate Investment Trust (NSR) is the first independent, internally managed and fully integrated owner and operator of self-storage centres to be listed on the Australian Securities Exchange (ASX).
In undertaking this endeavour, National Storage has made a significant contribution to the self storage industry by laying the foundations for future investment institutes to utilise the product. A lot of time and energy was involved in educating prospective investors about the new asset class and business structure and how it differs from traditional property models.
In addition to being unique, this innovation has met with significant success; the initial offer was five times oversubscribed and the stock has been one of the outperformers in the sector in the first half of 2014, achieving an average trading premium of 20-30% above listing price.
The advent of National Storage REIT is an important milestone for the Australian self-storage industry as it represents a change in mindset and recognition that in the future, well-managed, well-structured storage offerings have the potential to gain widespread institutional market acceptance.