Abacus Storage King reported strong trading conditions for the September quarter, with its Established Portfolio achieving an average revenue per available square metre (RevPAM) of $340. This represents a 1.3 per cent increase compared to the previous year. Occupancy rates averaged 90.8 per cent across the portfolio, with New South Wales recording the highest occupancy at 92 per cent. Victoria and Western Australia also demonstrated robust rental rate growth. Abacus Storage King specialises in providing self-storage solutions, offering secure and accessible spaces for personal and business use. The company owns and operates a network of storage facilities across Australia.
Abacus is progressing with its expansion plans and is on schedule to deliver four new stores during the 2025–26 financial year. These new stores are expected to add approximately 24,000 square metres of income-producing space to the company’s portfolio, further strengthening its market position.
At the end of the quarter, gearing rose to 31 per cent, reflecting recent capital deployment and distributions. The company noted that this level remains within its target range of 25 to 35 per cent, indicating a stable financial structure.
Looking ahead, Abacus has reaffirmed its full-year distribution guidance of 6.2 cents per security. The payout ratio is projected to be between 90 and 100 per cent of funds from operations, contingent on the continuation of stable trading conditions. The company’s confidence in its outlook is underpinned by its portfolio of well-located urban assets and its effective operating platform.
