ABACUS PROPERTY GROUP ACQUIRE ANOTHER WOLLONGONG SELF-STORAGE ASSET

Tim Jones
ABACUS PROPERTY GROUP ACQUIRE ANOTHER WOLLONGONG SELF-STORAGE ASSET

Abacus Property Group has continued the expansion of its burgeoning self-storage portfolio, with the acquisition of a modern facility in the epicentre of Wollongong’s most sought-after industrial precinct.

The North Wollongong property is made up of three lots and includes approximately 461 storage units and a further five separate warehouse units. The facility sits on an extensive 1.029ha site with a 2,500m2 hardstand area dedicated to vehicle, boat and caravan storage.

Tim Jones and Michael Farina at MMJ Wollongong facilitated the off-market transaction at $10,900,000. This came off the back of another deal that the specialist agency brokered, which saw Abacus take out an industrial property in Wollongong’s northern suburbs for $5,200,000.

The ASX listed company is stamping itself on the Illawarra market in response to strong demand and growth potential in the sector.

Selling agent and Managing Director, Tim Jones said “The robust nature of both this sale and the one we effected to Abacus last year, are good positive indicators for the self-storage sector and the region’s market as a whole”.

“Having such a well-respected and proved group actively expanding their operations in and around Wollongong during such an uncertain time, is a real feather in our cap”.

 

For more information, please contact Tim Jones on 0409 456 299.

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