Stor-Age, a large self-storage operator in South Africa, announced plans to develop a $9.1 million multi-story self-storage facility in Claremont, a suburb of Cape Town. Construction is scheduled to begin this month on the seven-story, modern facility. It will feature 12,500 square meters of self-storage space and offer more than 850 units ranging in size from 3 to 30 square meters.
On the back of an exceptionally strong trading performance over the last 18 months across our portfolio and in particular at our Tokai store, we are pleased and excited to be introducing our high-quality self-storage product into the heart of Cape Towns Southern Suburbs, said Gavin Lucas, Stor-Age CEO.
The facility will be located at the intersection of Brooke and Main roads and be accessible from Cavendish Street, a busy road that leads to a popular retail center, company officials said. In addition to Claremont, the facility will serve the Southern Suburbs communities of Bishopscourt, Newlands, Rondebosch, Kenilworth and Wynberg.
Stor-Age operates nearly 20 self-storage facilities throughout South Africa, with a corporate office in Cape Town.