Stor-age Property Reit Ltd. · JSE:SSS
Stor-age Property Reit — FY2025 Earnings Presentation
94 slides from Stor-age Property Reit's earnings presentation, June 2025
Slide 1: Annual Results Presentation, Year Ended 31 March 2025
STOR-AGE PROPERTY REIT ANNUAL RESULTS PRESENTATION YEAR ENDED 31 MARCH 2025 STOR-AGE PROPERTY REIT LIMITED 1
Slide 2: Presentation Outline
PRESENTATION OUTLINE Page Introduction 4 Financial review 16 Strategy 31 Joint venture partnerships 33 Acquisitions and developments 38 Third-party management 45 Operations 47 Environmental, social and governance 50 Outlook 53 STOR-AGE PROPERTY REIT LIMITED 2
Slide 3: Annexures
ANNEXURES Page A: Key financial and operational highlights 55 B: Share price performance 56 C: Investment case 59 D: The market 61 E: Strategy and portfolio 66 F: SA property 71 G: UK property 77 H: Operations 80 I: Environmental, social and governance 90 STOR-AGE PROPERTY REIT LIMITED 3
Slide 4: Introduction
INTRODUCTION STOR-AGE PROPERTY REIT LIMITED 4
Slide 5: Highlights
HIGHLIGHTS Final dividend of 53.56 cents per share Distributable income per share for the year of 123.01 cents, up 4.1% Rental income and net property operating income up 8.3% and 8.0% respectively Same-store rental income up 10.2% SA and 6.5% UK Same-store net property operating income up 11.1% SA
Slide 6: A Decade Later – The SA Listed Property Success Story
A DECADE LATER – THE SA LISTED PROPERTY SUCCESS STORY Assuming R100 was invested on the date of listing in November 2015 and provided that the full pre-tax dividend was reinvested, an investment in SSS would be worth R329.06 at the end of May 2025. The same investment in the JSE All Share Index (ALS
Slide 7: A Decade of Outperforming the Economic Cycle
A DECADE OF OUTPERFORMING THE ECONOMIC CYCLE Same-store rental GDP¹⁄² CPI³⁄⁴ income⁵⁄⁶ SA portfolio (cumulative from FY17 to FY25 – compounded) 6.8% 52.4% 123.8% UK portfolio (cumulative from FY19 to FY25 – compounded) 6.7% 29.9% 71.8% SA – same-store rental income vs GDP and CPI UK – same-store ren
Slide 8: A Decade Later – An Attractive and Resilient Business
A DECADE LATER – AN ATTRACTIVE AND RESILIENT BUSINESS Distributable income per share (DIPS) Net property operating income (NPOI) 53% Growth over 10-year period (CAGR 4.9%) 809% Growth in NPOI over R965.2m 160 R1,000 10-year period (CAGR 27.8%) R893.4m 118.17c 123.01c R773.4m 114.07c 118.14c R800 120
Slide 9: Snapshot
SNAPSHOT Listing date November 2015 JSE sector Speciality REITs Profile Highly specialised, low risk, income paying self storage REIT Self storage 11 publicly traded self storage REITs universe (US: 5, UK: 2, EU: 1, Aus: 2, SA: 1) Market R7.7 billion1 capitalisation Total South Africa United Kingdom
Slide 10: Why Self Storage?
WHY SELF STORAGE? Resilient Diversified Stable cash Growth Attractive sector and customer and flows opportunity shareholder increasing asset base returns and demand diversification benefits • Needs-based • No material tenant • Attractive • Development • Self storage – sector and concentration risk o
Slide 11: Why Stor-Age?
WHY STOR-AGE? Experienced Diversified Flexible Operational Robust management and growing structure and excellence balance sheet team portfolio partnerships • Executive team • Consistent • Executing growth • Highly sophisticated • GCR Ratings co-founded growth of our strategy through dual-market plat
Slide 12: Granular and Stable
GRANULAR AND STABLE Properties Customers Markets Revenue 81 / 5% 55 000 + R13.4bn / 107 R1.3bn / 20% With 81 properties classified 55 000 + customers across Portfolio value¹ R13.4 billion Property operating revenue as owned, no property is all demographics (SA 47%; UK 53%) and total of R1.3 billion
Slide 13: Flexible Ownership Structure
FLEXIBLE OWNERSHIP STRUCTURE Country Brand Wholly-owned 55 81 26 Joint venture 7 20 13 Managed 1 6 5 Total properties 63 107¹ 44 1. Excludes Acton, opened in June 2025 STOR-AGE PROPERTY REIT LIMITED 13
Slide 14: Growth Channels
GROWTH CHANNELS Building out / Acquiring Developments Third-party expanding properties in joint venture management properties partnerships and third-party management structures • Portfolio growth y-o-y: eight properties, increasing from 99 to 107¹ › Three new developments in our JV partnerships (SA
Slide 15: Committed to Sustainability
COMMITTED TO SUSTAINABILITY Social Environmental 12 60% Third year supporting 12 previously disadvantaged 60% of owned properties have solar PV systems installed learners in a 12-month learnership programme 320m² R21.8 million ‘Community investment’: Approximately 20 R21.8 million invested in renewa
Slide 16: Financial Review
FINANCIAL REVIEW STOR-AGE PROPERTY REIT LIMITED 16
Slide 17: Financial Metrics
FINANCIAL METRICS 123.01 7.9% SA 94.0% SA 11.1% SA cents 2.9% UK 83.9% UK 5.0% UK Distributable Achieved rental Closing Net property income per share rate growth occupancy operating income Up 4.1% year-on-year Same-store year-on-year Same-store year-on-year Same-store year-on-year growth occupancy g
Slide 18: Trading Results
TRADING RESULTS FY25 FY25 FY24 FY24 SA UK SA UK SA UK Rm £’000 Rm £’000 +/- +/- Rental income SA same-store: Self storage 639.2 23 789 575.4 22 335 11.1% 6.5% Occupancy +2.1% and rental +7.9% Other 11.6 741 10.9 891 6.0% (16.8)% = 10.2% increase in rental income y-o-y Ancillary income 27.4 2 429 23.
Slide 19: Occupancy Summary
OCCUPANCY SUMMARY FY25 FY25 FY25 FY24 FY24 FY24 Occupancy OWNED PORTFOLIO GLA m2 Occupied m 2 % Occupied GLA m2 Occupied m 2 % Occupied growth m 2 SA Same-store 391 500 368 500 94.1% 391 000 361 000 92.1% 7 500 Non same-store 7 600 6 800 89.8% - - - 6 800 Total SA 399 100 375 300 94.0% 391 000 361 0
Slide 20: Occupancy and Rental Rate Progression
OCCUPANCY AND RENTAL RATE PROGRESSION UK GLA m2 Occupied m2 %Occupied m2 growth Rate growth Sep 21 88 500 83 300 94.1% 10 400 6.1% • Peak occupancy during pandemic Mar 22 101 000 89 300 88.4% • Decrease in occupancy in winter months Oct 21 to Mar 22 in line with expectation Same-store 88 900 80 400
Slide 21: Same-Store Rental Income Growth
SAME-STORE RENTAL INCOME GROWTH 25% 21.2% 20% 15% Percentage 12.7% 10.0% 10.2% 9.8% 10% 8.9% 8.6% 6.5% 6.3% 6.5% 5.0% 5% 3.0% SA 0% UK FY20 FY21 FY22 FY23 FY24 FY25 Years STOR-AGE PROPERTY REIT LIMITED 21
Slide 22: Churn and Length of Stay – SA
CHURN AND LENGTH OF STAY – SA 6.0% 27 5.8% 5.7% 26.3 5.6% 26 5.4% 5.4% 25.5 5.2% 5.2% 25 5.1% Percentage Months 5.0% 24.5 4.8% 24 4.8% 4.8% 4.6% 23.7 4.4% 23 23.1 4.2% 22.7 4.0% 22 FY20 FY21 FY22 FY23 FY24 FY25 Years Churn % Average length of stay (months) Each financial year represents the average
Slide 23: Churn and Length of Stay – UK
CHURN AND LENGTH OF STAY – UK 9.0% 34 8.8% 32.8 33 8.7% 32.1 8.6% 31.8 32 31.3 8.4% 8.4% 31 8.2% 8.2% 8.2% 30.8 30 Percentage 8.1% Months 8.0% 7.9% 29 7.8% 28 7.6% 27 7.4% 26.2 26 7.2% 7.0% 25 FY20 FY21 FY22 FY23 FY24 FY25 Years Churn % Average length of stay (months) Each financial year represents
Slide 24: Distribution Analysis
DISTRIBUTION ANALYSIS FY25 FY25 FY25 FY24 FY24 FY24 Total Total SA UK SA UK Total SA UK Total +/- +/- +/- +/- Rm £m Rm Rm £m Rm Rm % % % Net property operating income 524.7 18.9 965.2 468.6 18.0 893.4 71.8 +8.0% +12.0% +5.0% Waterfall – loss of revenue claim 6.0 - 6.0 10.5 - 10.5 (4.5) -42.9
Slide 25: Balance Sheet – Summarised
BALANCE SHEET – SUMMARISED R million FY25 FY24 R million FY25 FY24 ASSETS LIABILITIES Non-current assets Non-current liabilities Investment properties 11 993 11 310 Bank debt 4 285 3 887 SA Freehold 5 723 5 243 ZAR 1 859 1 426 SA Leasehold 168 169 GBP 2 426 2 461 UK Freehold 5 680 5 449 Derivatives
Slide 26: Property Valuations
PROPERTY VALUATIONS Average value SA R million % of portfolio per m² Discount rate Exit cap rate Freehold and long leasehold 5 723.3 97.2% Short leasehold 167.6 2.8% Total 5 890.9 100.0% R14 347 14.31% 8.73% Trading properties 5 718.6 97.1% Average value per m 2 up 6.5% vs Mar 24 Held for developmen
Slide 27: SA REIT Net Asset Value per Share
SA REIT NET ASSET VALUE PER SHARE Rm 31 Mar 25 31 Mar 24 Reported net asset value (NAV) 8 465.7 7 534.0 Derivatives MTM (20.2) (42.8) Goodwill and intangible assets (159.9) (160.9) Deferred tax 0.1 425.0 SA REIT NAV 8 285.9 7 755.3 Shares in issue + dilutive instruments (million) 486.2 480.4 SA REIT
Slide 28: Treasury Dashboard
TREASURY DASHBOARD ZAR GBP GBP Total R millions £ millions R million R million Total debt facilities 2 375.0 113.5 2 694.3 5 069.3 Undrawn debt facilities 511.2 10.2 243.0 754.2 Gross debt 1 863.8 103.3 2 451.3 4 315.1 Secured 1 363.8 92.4 2 193.6 3 557.4 Unsecured 500.0 10.9 257.7 757.7 Cash on han
Slide 29: Treasury Dashboard (continued)
TREASURY DASHBOARD (CONTINUED) Asset and debt ratios Mar 25 Mar 24 ICR 3.1 3.6 Unencumbered assets R2.269 bn R1.049 bn Unencumbered asset ratio 18.9% 9.3% Unsecured debt ratio 18.1% 12.2% Ratio of secured borrowings to encumbered assets 33.1% 35.4% Ratio of unsecured borrowings to encumbered assets
Slide 30: Loan-to-Value (LTV)
LOAN-TO-VALUE (LTV) 50% Sector weighted 45% Sector historic average 39%¹ average 34.9%¹ 40% 35% 31.4% 31.3% 30.1% 29.9% Loan-to-Value (LTV) 30% 27.9% 24.6% 24.1% 25% 20% 16.1% 15% 12% 10% 8.7% 5% 0% FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 1. Source: Investec Securities, April 2025 STOR-AGE
Slide 31: Strategy
STRATEGY STOR-AGE PROPERTY REIT LIMITED 31
Slide 32: Strategic Planning to 2030
STRATEGIC PLANNING TO 2030 • Highly strategic in planning – completed in 5-year cycles • Successful track record of executing 5-year strategies to 2015, 2020 and 2025 • Business strategy traditionally led by property strategy – now complemented by digital strategy • Multiple research projects undert
Slide 33: Joint Venture Partnerships
JOINT VENTURE PARTNERSHIPS STOR-AGE PROPERTY REIT LIMITED 33
Slide 34: Joint Ventures – The Model
JOINT VENTURES – THE MODEL Several JV partnerships have been established in SA and the UK in recent years to acquire and develop new properties. Overview • At year end › JV investments value: R711.4 million (FY24: R705.9 million), with R135.8 million in SA and R575.6 million in the UK › Trading prop
Slide 35: Joint Ventures – South Africa
JOINT VENTURES – SOUTH AFRICA JV with Nedbank (NPP) established in FY22 • Five properties completed and trading Nedbank • Kramerville opened in July 2024, 5 400m² GLA on full fit-out Property Partners • Total GLA: 28 500m² upon full fit-out • Portfolio valuation: R515.3 million • Equity interest: St
Slide 36: Joint Ventures – UK
JOINT VENTURES – UK JV portfolio overview (established 2021) • Focus areas: London (and commuter towns), South East, and key regional towns/cities • Stor-Age equity interest: 24.9%, with the exception of Acton (15%) • July 2024 – reduced shareholding in Acton from 24.9% to 15.0% by disposing of a 9.
Slide 37: Joint Ventures – Portfolio Summary
JOINT VENTURES – PORTFOLIO SUMMARY The table below summarises the JV property portfolio: New developments New developments Acquired GLA on full Total Trading In progress Trading fit-out (m²) SA NPP 5 - - 5 28 500 Garden Cities 1 - - 1 6 300 Rabie 1 - - 1 6 100 Total 7 - - 7 40 900 UK Moorfield 5 - 4
Slide 38: Acquisitions and Developments
ACQUISITIONS AND DEVELOPMENTS STOR-AGE PROPERTY REIT LIMITED 38
Slide 39: Acquisitions and Developments
ACQUISITIONS AND DEVELOPMENTS Developments completed and pipeline • Completed 12 new developments (SA 6; UK 6) in JV structures, past two years • Development pipeline: 83 000m² GLA across 18¹ projects • Continue to collaborate with institutional investors and private equity funds, including Nedbank,
Slide 40: New Developments
NEW DEVELOPMENTS Completion Property Region Country Status GLA¹ date² De Waterkant Cape Town SA In planning 6 600m² TBC Sandton Johannesburg SA In planning 6 200m² TBC Bramley Johannesburg SA In planning 5 700m² TBC Rosebank Johannesburg SA In planning 5 800m² TBC Hillcrest Durban SA In planning 6 5
Slide 41: Extensions and Redevelopments
EXTENSIONS AND REDEVELOPMENTS Completion Property Region Country Status GLA date Parklands Cape Town SA Expansion – under construction 3 200m² July 2025 Sunningdale Cape Town SA Expansion – in planning 4 700m² TBC Stikland Cape Town SA Expansion – in planning 2 200m² TBC Huddersfield North East UK E
Slide 42: Develop and Manage Back Model
DEVELOP AND MANAGE BACK MODEL Opportunity identified in the UK market to develop and deliver newly built, fourth-generation properties in prime locations on a forward commitment basis to prospective institutional buyers, and to then manage the properties post opening. South East opportunity • New 57
Slide 43: Third-Party Developments – Hines
THIRD-PARTY DEVELOPMENTS – HINES • Entered third-party management agreement with Hines in FY25 to manage their acquisition of a three-property portfolio in the UK • The acquisition marked Hines’ first investment into the European self storage sector • Hines is a privately owned global real estate in
Slide 44: Chelmsford – Current Third-Party Development (Hines)
CHELMSFORD – CURRENT THIRD-PARTY DEVELOPMENT (HINES) Storage King Chelmsford is a brownfield development (building conversion) located Esso Service Roxwell Station to the north east of Chelmsford city centre, at the intersection of the B1008 and Brook Colchester Street. The central location enjoys e
Slide 45: Third-Party Management
THIRD-PARTY MANAGEMENT STOR-AGE PROPERTY REIT LIMITED 45
Slide 46: Third-Party Management
THIRD-PARTY MANAGEMENT Overview • Allows for growth in revenue with minimal capital investment and is key to our growth strategy • Platform includes 27 properties: 19 in the UK and eight in South Africa • Total management fees for the period: R71.0 million (FY24 R63.1 million), with 70% classified a
Slide 47: Operations
OPERATIONS STOR-AGE PROPERTY REIT LIMITED 47
Slide 48: Platform Overview
PLATFORM OVERVIEW Predictive pricing Purpose built Promotion controls Outstanding locations Rate increases Convenient access Multi-signal revenue High quality management properties Strategic focus from inception Permanently in beta Bespoke L&D platform Consistent approach Incentivised outperformance
Slide 49: Revenue Management
REVENUE MANAGEMENT Integrated strategy Optimising demand Customer Testing Occupancy Optimisation journey trends Multi-signal, real-time Understand modelling customer journey Optimised Demand Dynamic, optimal Promotion consumer cycle cycle pricing Digital experience Market-leading sector IP Propertie
Slide 50: Environmental, Social and Governance
ENVIRONMENTAL, SOCIAL AND GOVERNANCE STOR-AGE PROPERTY REIT LIMITED 50
Slide 51: ESG
ESG Strategy and framework • Aligns our Vision and Core Values with relevant UN Sustainable Development Goals (SDGs) • Takes guidance from the Task Force on Climate-related Financial Disclosures (TCFD) • ESG framework: Facilitates monitoring of our impact on the economy, workplace, social environmen
Slide 52: Typical Property
TYPICAL PROPERTY Stor-Age develops environmentally-friendly buildings with low environmental impact. ESG and sustainability remain key areas of focus. Solar PV & battery energy storage systems Properties with solar capacity – 65 Properties with hybrid solar PV systems – 42 Solar power generated to d
Slide 53: Outlook
OUTLOOK • Trading results › Delivered strong results in FY25, demonstrating the resilience of the business › Key operating metrics delivered growth despite a challenging environment › Remain focused on enhancing operational performance and driving growth › Supported by a strong and flexible balance
Slide 54: Annexures
ANNEXURES A. Key financial and operational highlights B. Share price performance F. SA property G. UK property C. Investment case H. Operations D. The market I. Environmental, social and governance E. Strategy and portfolio STOR-AGE PROPERTY REIT LIMITED 54
Slide 55: Key Financial and Operational Highlights
KEY FINANCIAL AND OPERATIONAL HIGHLIGHTS Annexure A 31 March 2025 31 March 2024 +/- +/- CER Property operating revenue1 Group (R million) 1 306.8 1 210.8 +7.9% +8.6% SA (R million) 676.0 607.3 +11.3% UK (£ ‘000) 27 128 25 634 +5.8% Net property operating income (NPOI)2 Group (R million) 965.2 893.4
Slide 56: Share Price Performance – Relative to ALPI
Indexed price 20 60 40 80 100 120 160 140 180 Nov-15 Jan-16 Mar-16 May-16 Jul-16 Sep-16 Nov-16 1. Bloomberg, as at 30 May 2025 Jan-17 Mar-17 May-17 Jul-17 Sep-17 Nov-17 Jan-18 Mar-18 May-18 Jul-18 Sep-18 Nov-18 Jan-19 Mar-19 May-19 Volume Jul-19 Sep-19 Nov-19 Jan-20 Mar-20 May-20 Jul-20 Sep-20 Month
Slide 57: Share Price Performance – Relative to UK Peers
SHARE PRICE PERFORMANCE – RELATIVE TO UK PEERS Annexure B Share price performance in GBP since listing in 2015 Stor-Age has a c.50% exposure to GBP assets through Storage King Stor-Age is entrenched in the UK market. This geographic underpin is coupled with an attractive yield spread relative to UK
Slide 58: Share Price Performance – Relative to UK Peers (24 months)
SHARE PRICE PERFORMANCE – RELATIVE TO UK PEERS Annexure B Share price performance in GBP over the last 24 months 140 130 120 Stor-Age 125 110 Forward yield: 7.9% Indexed price 100 Big Yellow 86 90 Forward yield: 6.0% Shurgard 82 80 Forward yield: 5.2% Safestore 69 70 Forward yield: 6.2% 60 50 40 Aug
Slide 59: Investment Case
INVESTMENT CASE STOR-AGE PROPERTY REIT LIMITED 59
Slide 60: Investment Case
INVESTMENT CASE Annexure C • Resilient and growing › Niche growth sector driven by societal trends such as consumerism, e-commerce growth, urban Global growth densification, and an increasingly mobile population opportunities in the › Primary demand drivers include life-changing events and dislocati
Slide 61: The Market
THE MARKET STOR-AGE PROPERTY REIT LIMITED 61
Slide 62: The Market
THE MARKET Annexure D UK self storage market overview • Less developed: Compared to the United States and Australia 2 050 83.3% 3 375 • Supply: Estimated at 0.94 sqf per head of population in the UK¹, versus 6.2 sqf in the US¹, 2.5 sqf Self storage properties, Occupancy on current Self storage prope
Slide 63: The Market (continued)
THE MARKET (continued) Annexure D Surge in institutional interest Institutional activity in the European self storage market has markedly increased since 2021 Investors such as Hines, Nuveen, PGIM, Heitman, PineBridge, Davidson Kempner and Carlyle are increasingly active, drawn by strong fundamental
Slide 64: UK and European Self Storage Industry – Overview
UK AND EUROPEAN SELF STORAGE INDUSTRY – OVERVIEW Annexure D UK self storage industry¹ European self storage industry (excluding UK)³ 2 915 75.1% c. 5 000 Self storage properties, Occupancy on current Self storage properties³ includes 1 135 container lettable area operators 116 million sqf Population
Slide 65: UK Self Storage Industry – Rate and Occupancy
UK SELF STORAGE INDUSTRY – RATE AND OCCUPANCY Annexure D Source: The Self Storage Association UK annual industry report, May 2025 STOR-AGE PROPERTY REIT LIMITED 65
Slide 66: Strategy and Portfolio
STRATEGY AND PORTFOLIO STOR-AGE PROPERTY REIT LIMITED 66
Slide 67: Strategy
STRATEGY Annexure E Strategic planning to 2030 • Highly strategic in planning – completed in 5-year cycles • Successful track record of executing 5-year strategies to 2015, 2020 and 2025 • Business strategy traditionally led by property strategy – now complemented by digital strategy • Multiple rese
Slide 68: Strategy (continued)
STRATEGY (continued) Annexure E Stor-Age is a sector specialist with deep product understanding, significant emerging and first-world market experience, and boasting a successful track-record of managing self storage assets. The business benefits from outstanding real estate expertise, an excellent
Slide 69: Portfolio Overview
PORTFOLIO OVERVIEW Annexure E 107 The portfolio comprises 63 properties in SA and 44 properties in the UK, with 81 properties classified as owned and 26 as managed SA PORTFOLIO UK PORTFOLIO¹ 63 properties 44 properties R6.26bn² R7.15 bn² (£300.9 million) 432 000m² GLA³ 184 600m² GLA³ 34 100 tenants³
Slide 70: Portfolio Analysis
PORTFOLIO ANALYSIS Annexure E Total property value¹ Total number of tenants² Total GLA² Total number of properties³ R13.4bn 55 500 616 600m2 107 Value of properties Number of tenants GLA Number of properties 39% 30% 41% 47% 53% 61% 70% 59% South Africa UK 1. Total net investment property value, incl
Slide 71: SA Property
SA PROPERTY STOR-AGE PROPERTY REIT LIMITED 71
Slide 72: Extra Attic – Acquisition
EXTRA ATTIC – ACQUISITION Annexure F In September 2024 we acquired Extra Attic in Airport Industria, Cape Town for a Borcherds Quarry Road purchase consideration of R73.0 million. Cape Town Int ernationa l Extra Attic is a single-storey self storage property that has been trading since 1998 and To C
Slide 73: Parklands – Expansion Underway
PARKLANDS – EXPANSION UNDERWAY Annexure F In November 2022, we acquired Think Secure Self Storage in Parklands, a suburb N7 located on Cape Town’s west coast. The property enjoys high visibility and presence on Sandown Road, with good access Sandow n Roa d off Koeberg Road from a nearby intersection
Slide 74: Sunningdale – Expansion (In Planning)
SUNNINGDALE – EXPANSION (IN PLANNING) Annexure F To Melkboss tra nd In April 2021, our Sunningdale property, developed in a 50:50 JV with Garden Cities, commenced trading. Since opening, the property has delivered an exceptionally strong Table Bay trading performance, underpinned by healthy levels o
Slide 75: Century City – Completed Development
CENTURY CITY – COMPLETED DEVELOPMENT Annexure F Located prominently on Edison Way just off Bosmansdam Road in Century City, the Monta gue property enjoys high visibility to passing traffic with good access. Ga rdens Edgemead The property will comprise an estimated 6 100m² GLA on full fit-out and was
Slide 76: Kramerville – Completed Development
KRAMERVILLE – COMPLETED DEVELOPMENT Annexure F Sandton South Roa d Located in Kramerville (Sandown), the property is situated on the corner of Dartfield Road and Commerce Crescent. The property benefits from having access on grade to all levels and will comprise an Dartfield Bow ling Roa d estimated
Slide 77: UK Property
UK PROPERTY STOR-AGE PROPERTY REIT LIMITED 77
Slide 78: Leyton – Completed Development
LEYTON – COMPLETED DEVELOPMENT Annexure G Storage King Leyton is a brownfield development (building conversion) located on Aldi Golden Business Park, at the intersection of Orient Way and the A104, which lies 1.5 miles from Leyton and 2 miles from Walthamstow underground stations and is easily ASDA
Slide 79: Acton – Completed Development
ACTON – COMPLETED DEVELOPMENT Annexure G Storage King Acton is a brownfield development (building conversion) located on A2020 The Vale Stanley Gardens just off the The Vale (A4020), a busy main arterial in Acton in West Shepherd’s London. Acton Bush Acton, which sits in zone 3, is a large residenti
Slide 80: Operations
OPERATIONS STOR-AGE PROPERTY REIT LIMITED 80
Slide 81: The Platform
THE PLATFORM Annexure H Highly scalable platform Can be leveraged into new markets Unique benefit Sophisticated Cost-effective South African head office infrastructure, homogenous product, shared language and similar timelines dual-market platform Experienced, hands-on management teams Highly experi
Slide 82: Direct Operating Costs – SA
DIRECT OPERATING COSTS – SA Annexure H 10% Repairs and maintenance 5% Utilities 3% Marketing 10% Insurance Total FY25 direct 4% Other operating costs amounted to R151.3 million 32% Property rates 3% Security 30% Staff costs 3% ICT costs STOR-AGE PROPERTY REIT LIMITED 82
Slide 83: Direct Operating Costs – UK
DIRECT OPERATING COSTS – UK Annexure H 7% Utilities 9% Repairs and maintenance 12% Marketing 7% Insurance Total FY25 direct 3% Other operating costs amounted to £8.18 million 32% Property rates 4% ICT costs 26% Staff costs STOR-AGE PROPERTY REIT LIMITED 83
Slide 84: Our Customers
OUR CUSTOMERS Annexure H GEOGRAPHIC REPRESENTATION1 RESIDENTIAL / COMMERCIAL TENANT MIX BY GLA2 Gauteng Residential 30 Western Cape 34 31 Commercial Eastern Cape KwaZulu-Natal 1 6 Free State 69 3 United Kingdom 26 GEOGRAPHIC FOCUS RESIDENTIAL vs COMMERCIAL Primary focus = high profile locations in J
Slide 85: Our Customers (continued)
OUR CUSTOMERS (continued) Annexure H AVERAGE LENGTH OF STAY – SA AVERAGE LENGTH OF STAY – UK < 6 Months 30 < 6 Months 24 29 31 6 - 12 Months 6 - 12 Months 14 1 - 2 years 9 1 - 2 years 11 16 2 - 3 Years 2 - 3 Years 20 16 > 3 Years > 3 Years DEMAND PROFILE – SA DEMAND PROFILE – UK Two significant user
Slide 86: Business Customers – Adding Value to SA Economy
BUSINESS CUSTOMERS – ADDING VALUE TO SA ECONOMY Annexure H Our commercial customers¹ 50% + 16% + 65% + 80% + c. 40% SMMEs Entrepreneurs Operational Inventory Within 5kms of requirements and stock their store Contribution to the local economy¹,² Considering that we had approximately 8 600 commercial
Slide 87: Digital First – Digital Marketing Platform
DIGITAL FIRST – DIGITAL MARKETING PLATFORM Annexure H Key features EUROPEAN CASE STUDY¹ • Full service digital marketing agency, focused on the self storage sector, launched in July 2020 Large-scale operator • Stor-Age: Accredited Google and Meta marketing partner Sustained impact on enquiry generat
Slide 88: SA Marketing Spend – Benefits of Scale & Specialisation
Annexure H SA MARKETING SPEND – BENEFITS OF SCALE & SPECIALISATION R680.2m R700 R16 R611.7m R14 R600 R539.6m R12 R500 R476.6m Property revenue | Millions Marketing spend | Millions R10 R400 R8 R300 R6 R5.2m R5.1m R4.6m R4.8m R200 R4 R100 R2 1.2% 1.0% 0.8% 0.8% R0 R0 FY22 FY23 FY24 FY25 % Marketing s
Slide 89: UK Marketing Spend – Benefits of Scale & Specialisation
Annexure H UK MARKETING SPEND – BENEFITS OF SCALE & SPECIALISATION £30 £3 £27.2m £25.7m £25.1m £25 £20.7m Property revenue | Millions Marketing spend | Millions £20 £2 £15 £1.09m £0.94m £0.98m £10 £1 £0.84m £5 4.6% 5.0% 4.2% 4.1% £0 £0 FY22 FY23 FY24 FY25 % Marketing spend as a percentage of propert
Slide 90: Environmental, Social and Governance
ENVIRONMENTAL, SOCIAL AND GOVERNANCE STOR-AGE PROPERTY REIT LIMITED 90
Slide 91: Annual Impact of Renewable Energy
ANNUAL IMPACT OF RENEWABLE ENERGY Annexure I • C02 emissions¹ avoided since 2018 – 4 693 tonnes (FY24: 3 769 tonnes) through the consumption of on-site solar PV renewable electricity • Emissions generated through municipal electricity consumption are lower as compared to the PY and significantly low
Slide 92: Social
SOCIAL Annexure I Social and economic development initiatives • Commitment: Stor-Age remains dedicated to social and economic development initiatives, utilising operational and marketing resources along with the core self-storage product • Objectives: Initiate and contribute to projects benefiting p
Slide 93: Social (continued)
SOCIAL (continued) Annexure I Stor-Age Business Hub and economic development • Commitment: Stor-Age remains committed to social and economic development initiatives, actively supporting the sustainability of commercial customers' businesses Support for SMMEs • Majority of our commercial customers ar
Slide 94: Disclaimer and Confidentiality
DISCLAIMER AND CONFIDENTIALITY This document does not constitute or form part of any formal proposal or offer or solicitation to sell, or offer for sale or investment, or for the issue or sale of securities. This document does not (and nor does any part of it) constitute any contract, commitment or
Stor-Age Property REIT — FY2025 Earnings Presentation on 6ix