Author Archives Malcolm

SSAA Self Storage Expo Asia

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The second Self Storage Expo Asia was held in Hong Kong on 26-27 March 2014 following the launch of the Association last year. The Conference was host to more than 120 people from Asia and Japan and also included attendees from as far afield as Canada, the US, India, Bahrain, Europe and South America.  Australia […]

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Self Storage Valuer’s Commentary (2013)

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Introduction Malcolm wrote this personal high-level overview of the Australasian self storage market (“A Valuer’s Commentary”) to the 2012 SSAA Almanac. It reflected on issues that had affected the industry through the year and hopefully provided general information, market context and food for thought to members. A repeat at the end of t...

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How much is my business worth?

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This article formed part of the SSAA Insider magazine October – November 2012. The initial comments are made by Rennie Schafer, CEO of the SSAA. Malcolm’s commentary follows Rennie’s… There have been very few sales of mature self storage businesses in Australasia over the last couple of years and those that have been so...

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The banks & 2012

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The Reserve Bank’s last reduction in the official cash rate is, amongst other things, recognition of the multi-speed economy affecting Australian business and its customers. The uncertainty created by the GFC and its aftermath has included the withdrawal and tightening-up of traditional financing and credit sources over time by the major banks t...

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Country Blues

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It’s of continuing concern to me that having just valued another provincial (smaller scale) self storage facility operated by a local estate agent, I have once again been confronted with management that is unhelpful, reactive and lacking focus, using reporting tools that are simplistic and too high-level, and by agency staff themselves who are re...

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It’s official – Banks want to lend you money again!

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In quite a few conversations I’ve had with clients and individual bankers around the country recently it is apparent that the major banks are again confirming self storage’s risk profile and ongoing business prospects as something they would like to finance, in stark contrast to their opinions of the industry 6 to 12 months ago. […]

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Banking Blues – Part 2

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Over the last several months I have needed to speak with major Banks in all of our capital cities regarding various self storage loan facilities coming due for refinance. On each occasion, it was apparent that most of the banking people I spoke with have little understanding of self storage. At a recent Self Storage […]

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Banking Blues – Part 1

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I recently held a phone conversation with a major Bank property officer. He couldn’t understand why adopting an established yield return per square metre, on a strongly performing and “proven” operator could be transferred to that facility’s next stage. Whilst the overall unit mix would of course change, including the addition of many more ...

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Agency Opportunity

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Despite the current post-GFC environment going concern, Self Storage facilities are still selling (albeit in small numbers), scattered around the country. Several provincial city facilities have recently sold at yields indicative of the lack of good quality assets in particular areas. The attraction of properly-run, estate agent operated (small) fa...

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The Credit Crisis

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I was recently speaking to the property people in four of our major banks. They each, in their own way, told me that their bank had lost its appetite for risk, lending has slowed appreciably, bank portfolios are being re-weighted out of property exposure, and good clients do not automatically get preference over new loans, […]

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