Overview
USSPSF is an unlisted, wholesale investment fund established by USSFM in 2015 to develop and own new, state-of-the-art self storage centres in the major population centres of Australia and New Zealand.
Portfolio
USSPSF is currently a 75.1% investor in the Australian Prime Storage Fund (APSF), a joint venture established with National Storage REIT (NSR) (24.9% investor). NSR is one of the largest owners and operators of self storage centres in the Australasian market.
It is APSF's mandate to develop, own and operate new, prime quality self storage centres in the major population centres of Australia and New Zealand.
USSFM established APSF with 3 foundation development projects, located in South East Queensland. USSFM is responsible for identifying and developing self storage centres that meet the prime investment criteria of the APSF. NSR will be the operator of the APSF centres. A further development site at Canterbury in Melbourne was acquired by APSF in 2017, with construciton expected to commence in 2018.
APSF will continue to focus on the development and ownership of industry-leading, purpose-built centres in inner urban areas.
Strategy
Changing residential demographics and commercial business models are presenting opportunities for additional self storage capacity in the Australian market. Supply of new, high quality self storage centres in high density consumer areas has been limited due to the skill and capital required to identify quality sites and develop centres. Through its investment in APSF, USSPSF is pursuing this opportunity by developing high quality purpose-built self storage centres in partnership with NSR, a leading self storage owner and operator.
