eKourier Oct 2012

Kennards Grows to Five Centres in Newcastle

With five locations in Newcastle, our Brand leadership is further strengthened, and our marketing opportunities are also widened. The Cardiff location will also offer some strong appeal to a number of our National Accounts. In Newcastle, KSS now has 30,542 square metres of space available; 2812 storage units available and $4.3 million per annum income. An expansion of Cardiff with an additional 144 spaces will commence promptly. We are excited to make all our Newcastle locations more compatible and more complimentary with each other, and less competitive. There are good opportunities to harmonise prices and unit mix.

A nother exciting step in our growth is the We were approached by the owners to be the managers and look after day-to-day management of the two centres in Mayfield and Cardiff. The owners (The Baudinets) agreed to management take-over of two competing centres in the Newcastle area.

Both locations will also get office conversions to bring our strong retail attributes to the properties. Sam Kennard Managing Director

undertake substantial upgrades so that Kennards Brand could be adopted. After previously dealing with Dylan and Bruce Baudinet when we acquired Belmont from them, we found they are very like-minded, which is important to us when working with 3rd Party Investors. Many opportunities in Cardiff and Mayfield are obvious, with some easy improvement gains to be made. It is pleasing to see Lynda and the entire Newcastle Team embrace the challenge. Existing Team Members also eagerly volunteered to stand-in and work in the centres to effect the ‘ Kennardisation ’.

Kennards Kourier Oct 2012

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