Storage space as an asset.
Self storage combines real estate with an operating business. How to invest, what a financial model needs to cover and which questions to ask of every project.
Six ways into the market.
Develop your own site
On your own land or property. Full value creation, full risk.
Direct investment
Acquire an existing facility or one under construction. It can be run by a third-party operator.
Joint venture
Capital meets developer or operator expertise. Profit and risk are shared.
Asset investment
Invest in individual units such as storage containers, which an operator rents out and manages.
Operator equity
Equity in an operating company with several sites and a growth plan.
Debt / private debt
Loans for construction or portfolios in return for interest and collateral, with no operational involvement.
Model your site.
Stabilised state after the lease-up phase, simplified assumptions. Ideal for getting a feel for the key levers: rent and occupancy usually matter more than construction costs.
Stabilised net operating income relative to the investment (excluding land purchase; ground rent included in operating costs).
Illustrative model with simplified assumptions (storage containers: ~42% site coverage, 15 m² per unit; indoor: 65% lettable). Not investment advice, not a forecast. Taxes, financing and start-up losses are not included.
Ten questions for every project.
Whether you provide capital, contribute a site or buy a facility, these points should be clearly answered.
Present a project- 01
How large is the catchment area?
Population, share of renters and drive time within a 10–15 minute radius.
- 02
Who is the competition?
Existing and planned facilities, their prices and occupancy.
- 03
Is the use permitted or permittable?
Zoning plan, pre-application enquiry, conditions.
- 04
How realistic is the lease-up curve?
Months to 50%, 80% and target occupancy, backed by references.
- 05
Who operates it, and with what track record?
Existing sites, key figures, team.
- 06
How are the site and term secured?
Ownership, lease term, renewal options, reinstatement obligations.
- 07
What is the capital structure?
Equity and debt, ranking, collateral, covenants.
- 08
How and when are returns paid out?
Distribution waterfall, costs, fees, reporting.
- 09
What exit options are there?
Sale to a portfolio operator, refinancing, buy-back.
- 10
Is the offer regulatorily sound?
Prospectus or disclosure obligations, contract documentation, risk warnings.
There are no opportunities without risks.
Letting risk
Slower lease-up or lower occupancy than planned.
Pricing risk
New competition or weak demand push down achievable rents.
Project risk
Delays in permits or construction, or rising costs.
Operator risk
Dependence on the quality and stability of the operator.
A project looking for capital, or capital looking for a project?
Present your plans. We bring together landowners, operators and investors.