Fraser Coast self-storage facility for sale

iStore Storage, a self-storage facility in Hervey Bay has been listed for sale providing an opportunity to invest in a low-input asset in the growing Fraser Coast region. 

Located at Navelina Court, near the main entry to the coastal city, the property was developed by current owners who were seeking to diversify their agricultural assets and invest in a high-returning, non-cyclical style of property. 

CBRE’s Louisa Blennerhassett and Matt Marenko are managing the sale via an Expression of Interest campaign closing October 12, 2023. 

The Hervey Bay iStore storage business currently returns a net profit of $701,000, based on similar assets, it is expected to sell at a circa 6% yield. 

The sale includes the freehold properties across three titles, as well as long-term leasehold of a fourth property, and the profitable business itself.

“The current owners were seeking an off-farm investment, in contrast to their agricultural properties, unlike agriculture, this investment is not dependent on weather or pricing cycles, it offers a strong stable return year-round,” Ms Blennerhassett said. 

“The business is set up to run remotely, with the owners only visiting a few times per year. The property also allows for future growth through development, with the opportunity to add further storage units and grow revenue with increased pricing.”