Perth set to join the URBIS storage index


Urbis is pleased to announce that from 31 December 2017, the Perth metropolitan self storage market will be included in the Urbis Storage Index (otherwise known as the USI).

The Urbis Storage Index has monitored the self storage industry in Australia and New Zealand since June 2008. The Urbis Storage Index was introduced following the global financial crisis (GFC) to provide greater understanding of the self storage industry, particularly to external stakeholders (financiers, analysts, investors), along with the opportunity for self storage operators to benchmark the trading performance of their self storage facility / facilities.

Recognising the material variations between different metropolitan locations, the Urbis Storage Index tracks the self storage performance of 9 geographic zones:

  • Sydney Inner Zone;
  • Sydney Outer Zone;
  • Melbourne Inner Zone;
  • Melbourne Outer Zone;
  • Brisbane Inner Zone;
  • Brisbane Outer Zone;
  • Auckland Zone;
  • East Coast Australia Zone (Sydney, Melbourne and Brisbane); and
  • Australia and New Zealand Zone.

The Urbis Storage Index analyses the movement of the self storage industry through 3 primary performance measurement indices:

Storage fee rate (SFR) index – The total accrued monthly revenue (excluding GST) as at the respective index date for all self storage facilities included in the zone, divided by the total area of occupied storage space measured in square metres for all self facilities included in that zone. The monthly storage fee rate is then annualised to produce a weighted average annual storage fee rate as at the index date;

Area occupied (AO) index –The total storage area occupied in square metres for all self storage facilities within each zone divided by the total storage area available in square metres for all self storage facilities within each zone; and

Monthly revenue (MR) index – The total accrued monthly revenue (excluding GST) as at the index date. The monthly revenue index is effectively a function of the above 2 indices, as it is a product of the total storage area occupied and the achieved storage fee rate.

Given the significant fluctuations in storage fee rates and area occupied during the occupancy build-up of a self storage facility following the commencement of operations, the Urbis Storage Index only includes self storage facilities that are classified as ‘mature’. In the context of the Urbis Storage Index, a ‘mature’ self storage facility is generally defined as a self storage facility that has reached a sustainable occupancy level (whether current or in the past) and is no longer considered to be occupancy build-up.

For the addition of a new zone, the Urbis Storage Index requires a representative sample of the self storage market in that zone, typically more than 10%. Urbis are pleased to confirm that this threshold has been achieved for the Perth Zone following the commitment of 17 self storage facilities (to date). Should you wish to contribute to the Perth Zone for the Urbis Storage Index, please contact Tim Creighton prior to 31 December 2017.

The continual biannual release of the Urbis Storage Index is dependent on the ongoing support and trust of all participants. Financial trading detail provided remains strictly confidential. The Urbis Storage Index publishes aggregated data and does not identify the individual trading performance of any self storage facility.

Urbis would like to take the opportunity to thank all participants for their contribution to the Urbis Storage Index. Urbis would also like to recognise the efforts of SSAA board member Shaun Bain of KeepSafe Storage in the addition of a Perth Zone for the Urbis Storage Index.

The next Urbis Storage Index as at 31 December 2017 (including Perth) will be released in February 2018. Should you wish to receive a copy of the Urbis Storage Index, please contact Tim Creighton to be placed on the Urbis Self Storage mailing list. For a copy of the most recent Urbis Storage Index as at 30 June 2017, please click here


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