National Storage REIT to acquire Sydney storage centre

Company News

by Jessica Ellerm

National Storage REIT (ASX:NSR) has announced it will acquire a second freehold storage centre in Artarmon, Sydney.

The multi-level storage centre contains 550 units of over 3,300 square metres of leasable space.

National Storage will pay current owners Ebley Street Holdings Pty Ltd and Metro Storage Pty Ltd $10.75 million for the facility.

The acquisition is its second in the area, with the company actively pursuing other opportunities.

National Storage REIT reported a net profit of $44 million at 30 June 2016.

Jessica Ellerm

Finance News Network
Jessica joined FNN in April 2016 and presents the Australian Share Market Outlook, and reports on the morning's leading business stories. Alongside FNN Jessica is a fintech industry commentator, writing for her own blog and a number of international online publications.