Storage Investments Australia expands into South Morang

Storage Investments Australia (SIA) has acquired a new site for its self-storage expansion across Victoria.

The acquisition of the 6,557sqm vacant site, located at 10-12 Danaher Drive South Morang, provides further growth for SIA as it continues to build a significant portfolio of institutional-grade self-storage facilities in key markets across Australia.

CBRE’s Joe Brzezek and Daniel Eramo, in conjunction with Tony Casey of AGTC Property Project Management, negotiated the off-market sale on behalf of the private vendor.

“Self-storage is one of the strongest performing sub-sectors within the industrial market which is being driven by Melbourne’s population growth and has been very topical over the past 12 months. Last year CBRE was involved in over $35million off market self-storage related transactions in Melbourne’s North,” Mr Brzezek said.

Con Tragakis, Chairman of SIA, added, “South Morang is an important addition to our strategy, reflecting our vision to build a national portfolio of self-storage facilities and establish ourselves as one of Australia’s largest fund managers focused exclusively on the self-storage sector. This acquisition highlights the strength of our relationships, enabling us to identify and secure attractive off-market acquisition opportunities that support our growth ambitions.”