KSS Information Memorandum 2021

Kennards Background and History In 1973 Neville Kennard, then Managing Director of Kennards Hire Service on a visit to the United States, first saw a “Mini Storage” - rows and rows of garages with roller doors at a facility in California. The idea clicked in Neville’s mind, so he came back and built six 20ft x 10ft storage units behind the Kennards Hire Centre at Newbridge Road, Moorebank - Australia’s first self storage! With a sign out the front saying “Kennards Mini Storage” and a small Yellow Pages ad, the spaces were rented and more were built progressively until the available land was full with about 100 units. The 1980’s Properties were gradually acquired and developed during the 1980’s. In 1981 a big old wool store in Fortitude Valley, Brisbane was on the market, so the decision was made to form a company to specialise in stand-alone self storage facilities. Thus Easi Stor Pty Limited was formed to acquire, develop and market a chain of self storage centres. During this time, 9 properties were opened. The 1990’s Even after the real estate boom of the late 80’s, the company continued to actively look to grow throughout the next decade. 1991 the decision to use the name Kennards Self Storage was made and the 9 properties were re-badged. The style of development was improved and individual door alarms were introduced to all developments from 1994. Sam Kennard became the Managing Director in 1995, and Neville continued to help with Acquisition and development. In 1997, the company began its Melbourne expansion with the acquisition of Huntingdale. The focus on particular investment criteria sharpened and properties were selectively acquired and developed. There were 14 new Self Storage Centres acquired and developed in the 1990’s.

Mt Eden N.Z.

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