KSS Information Memorandum 2021

A summary of the various qualities is provided below.

Class ‘A’ Facilities Class A facilities have excellent locations and access to attract customers willing to pay rents in the upper percentile in the market place. The facilities must be of superior construction and finish, relatively new or competitive with new facilities, and provides professional on-site and off-site management. Class ‘A’ facilities are typically located in markets with high barriers-to-entry. They are characterised by above average maintenance. Usually have above average security systems as well as 24 hour access. Class ‘B’ Facilities Class ‘B’ facilities have average locations, access and visibility. These facilities compete at the low end of Class A facilities and achieve rent rates below the Class A and above the Class C facilities. They receive average to good maintenance and have a full time on-site manager and competent off-site management. The quality of construction ranges from average to good. Security ranges from average to good. Class ‘C’ Facilities Class ‘C’ facilities generally have secondary, (less desirable) locations relative to the customers needs. Often these facilities have poor access and limited visibility. They are typically older facilities with growing functional and/or economic obsolescence. They achieve rents at the bottom of the range in the market place. These facilities are often owned and operated by individuals and may not have an on-site manager. The quality of construction and maintenance ranges from fair to average. Often these facilities have minimal or no security and receive below average maintenance.

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