{"id":8857,"date":"2025-12-05T17:43:40","date_gmt":"2025-12-05T15:43:40","guid":{"rendered":"https:\/\/sareit.co.za\/?p=8857"},"modified":"2026-03-26T09:38:28","modified_gmt":"2026-03-26T07:38:28","slug":"stor-age-raises-r500-million-in-accelerated-bookbuild","status":"publish","type":"post","link":"https:\/\/muddev.co.za\/sareit\/stor-age-raises-r500-million-in-accelerated-bookbuild\/","title":{"rendered":"Stor-Age raises R500 million in accelerated bookbuild"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row][vc_column][vc_column_text css=&#8221;&#8221; css_params=&#8221;&#8221;]<\/p>\n<p style=\"text-align: left;\"><strong>Stor-Age raises R500 million in significantly oversubscribed accelerated bookbuild<\/strong><\/p>\n<p><strong>JSE REIT Stor-Age, South Africa\u2019s leading and largest self storage property fund, today announced the successful raising of R500 million in an accelerated bookbuild. Following strong demand, the bookbuild was more than three times oversubscribed.<\/strong><\/p>\n<p><strong>&nbsp;<\/strong>The bookbuild, announced yesterday, saw R500 million of equity raised at a price of R17.90 per share, representing a 0.7% discount to the 30-day volume weighted average traded price.<\/p>\n<p>The proceeds of the equity raise will be applied to support Stor-Age\u2019s 2030 Property Strategy, where the Company looks to increase the South African portfolio to 90 properties and the UK portfolio to 70. The raised funds will enable the Group to continue taking advantage of development and acquisition opportunities in both markets and provide capacity for general corporate purposes.<\/p>\n<p>The result of the accelerated bookbuild is a strong vote of confidence in the business and its strategy. Comments Stor-Age CEO Gavin Lucas, \u201cWe are pleased with the result of yesterday\u2019s capital raise, which once again demonstrates both the high regard in which Stor-Age is held and the significant appetite for the Company\u2019s stock. The capital raised will allow us to successfully continue with our strategy of growing our portfolio in both South Africa and the UK, adding quality and scale in both markets.\u201d<\/p>\n<p>Stor-Age\u2019s pipeline, which includes new developments, selective acquisitions and conversions in high-growth urban and regional markets, consists of 19 properties, offering an estimated 78 000m\u00b2 GLA. The equity capital raised will be used to fund the acquisition of two properties operated by Lock Up Storage in KwaZulu-Natal for R95 million. Located in Pinetown and New Germany, the two properties will expand the portfolio by 11 400m<sup>2<\/sup>.<\/p>\n<p>Development of the Company\u2019s new SA flagship property, located in De Waterkant, Cape Town, is scheduled to begin in early 2026 at a total development cost of R155 million (excluding land costs). It will be the most expensive self-storage property ever developed in South Africa as well as the tallest at 13 storeys.<\/p>\n<p>Stor-Age continues to deliver excellent operational and financial results while deploying capital strategically to add quality and scale to its high-quality self-storage portfolio in South Africa and the UK.<\/p>\n<p>The share closed yesterday at R18.15.[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][vc_column_text css=&#8221;&#8221; css_params=&#8221;&#8221;] Stor-Age raises R500 million in significantly oversubscribed accelerated bookbuild JSE REIT Stor-Age, South Africa\u2019s leading and largest self storage property fund, today announced the successful raising of R500 million in an accelerated bookbuild. Following strong demand, the bookbuild was more than three times oversubscribed. &nbsp;The bookbuild, announced yesterday, saw R500 million of [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":8354,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_price":"","_stock":"","_tribe_ticket_header":"","_tribe_default_ticket_provider":"","_tribe_ticket_capacity":"","_ticket_start_date":"","_ticket_end_date":"","_tribe_ticket_show_description":"","_tribe_ticket_show_not_going":false,"_tribe_ticket_use_global_stock":"","_tribe_ticket_global_stock_level":"","_global_stock_mode":"","_global_stock_cap":"","_tribe_rsvp_for_event":"","_tribe_ticket_going_count":"","_tribe_ticket_not_going_count":"","_tribe_tickets_list":"[]","_tribe_ticket_has_attendee_info_fields":false,"footnotes":""},"categories":[9],"tags":[247,35,81,241],"class_list":["post-8857","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-members-news","tag-accelerated-bookbuild","tag-sa-reit-association","tag-self-storage-property","tag-stor-age-property-reit"],"featured_image_src":{"landsacpe":["https:\/\/muddev.co.za\/sareit\/wp-content\/uploads\/2025\/06\/Gavin-Lucas_Stor-Age-CEO-002-700x445.jpg",700,445,true],"list":["https:\/\/muddev.co.za\/sareit\/wp-content\/uploads\/2025\/06\/Gavin-Lucas_Stor-Age-CEO-002-463x348.jpg",463,348,true],"medium":["https:\/\/muddev.co.za\/sareit\/wp-content\/uploads\/2025\/06\/Gavin-Lucas_Stor-Age-CEO-002-200x300.jpg",200,300,true],"full":["https:\/\/muddev.co.za\/sareit\/wp-content\/uploads\/2025\/06\/Gavin-Lucas_Stor-Age-CEO-002.jpg",700,1050,false]},"_links":{"self":[{"href":"https:\/\/muddev.co.za\/sareit\/wp-json\/wp\/v2\/posts\/8857","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/muddev.co.za\/sareit\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/muddev.co.za\/sareit\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/muddev.co.za\/sareit\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/muddev.co.za\/sareit\/wp-json\/wp\/v2\/comments?post=8857"}],"version-history":[{"count":1,"href":"https:\/\/muddev.co.za\/sareit\/wp-json\/wp\/v2\/posts\/8857\/revisions"}],"predecessor-version":[{"id":10360,"href":"https:\/\/muddev.co.za\/sareit\/wp-json\/wp\/v2\/posts\/8857\/revisions\/10360"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/muddev.co.za\/sareit\/wp-json\/wp\/v2\/media\/8354"}],"wp:attachment":[{"href":"https:\/\/muddev.co.za\/sareit\/wp-json\/wp\/v2\/media?parent=8857"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/muddev.co.za\/sareit\/wp-json\/wp\/v2\/categories?post=8857"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/muddev.co.za\/sareit\/wp-json\/wp\/v2\/tags?post=8857"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}