Stor-Age Reit says its strong interim results were lifted in part by strong uptake from online retailers — particularly SMEs and start-ups — using self-storage facilities as decentralised inventory hubs.
The group expects the trend to continue as online shopping grows and consumers increasingly demand faster, local delivery, positioning it to benefit from the ongoing evolution of the country’s retail landscape.
“We’re seeing rising demand from SMMEs and e-commerce operators seeking affordable, flexible storage solutions, while larger firms increasingly use our facilities for decentralised and last-mile logistics,” the group said.
Both occupancy and rental rates increased year on year.
Key developments include the R95m lock-up storage acquisition in KwaZulu-Natal and a R155m flagship development at De Waterkant set for 2026.
Construction on a new property began in June in Bramley, Johannesburg, alongside the busy M1 highway.
The group plans to expand to 90 properties by 2030, targeting growth through a balanced pipeline of new developments, selective acquisitions and conversions in high-growth urban and regional markets.
Some of the demand is driven by “life-changing events” such as bereavement, separation, marriage, family expansion, downsizing, moving house or emigration, which create a need for temporary or longer-term storage, the group said.
This is compounded by urbanisation and rising population density, where shrinking homes leave less space for belongings, and by limited availability of industrial and logistics space, which is pushing businesses toward flexible self-storage solutions.
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