eKourier Oct 2016

FEATURES

market position as well as the customer experience. Despite the possibility of increased competition in some areas we are optimistic and our well located centres will enjoy growing demand and a bright future. KSS will continue to re-invest to improve our assets and serve the increasing demand of consumers. Sam Kennard Managing Director

This year we see Petersham and Waterloo undergo significant expansions. In the future all our well-located inner urban centres will also be considered candidates for expansions. These projects will not only add new space and scale to the centre but will re-position and modernise the property. The enhancements will improve our

from seasoned self storage players, but new investors and investment syndicates. The question of new capacity and oversupply may soon loom in the minds of self storage operators. Large influxes of new supply inevitably lead to the coincidental simultaneous opening of new projects in the same market areas. This will be a problem in those markets and will hurt most of those operators with only one or a few locations. Through geographic diversity large portfolio owners have oversupply risk mitigated. Opportunities do exist for growth, but careful analysis of the market should be undertaken and an ability to stomach a long and slow rent-up. Scarcity of property for all uses in markets like Sydney compel us to take a fresh look at our utilisation of existing centres. We have embarked on expansions that greatly intensify our use of our existing real estate.

Artist Perspective - KSS Croydon Park, Adelaide

5 Kennards Kourier Oct 2016