StoreLocal Expands with $1bn Investment in SEQ Self Storage Boom

What's Happening?

StoreLocal, Australia's fourth largest self-storage company, is expanding its operations in South-East Queensland. The company, now under the control of the world's largest asset manager, has submitted plans for a new large-format self-storage facility. This facility is proposed to be located at the southern end of the Gold Coast, specifically at 1763 Pacific Highway, near the M1's Exit 87 off-ramp. The planned development includes a four-level facility with a gross floor area of 13,963 square meters, part of a larger 21,850 square meter site. This move is part of StoreLocal's strategy to capitalize on the growing demand for self-storage solutions in the region.

Why It's Important?

The expansion of StoreLocal in South-East Queensland reflects the increasing demand for self-storage facilities in the area, driven by population growth and urban development. This investment is significant as it highlights the role of self-storage in supporting residential and commercial needs, providing flexible space solutions. The involvement of a major asset manager underscores the financial confidence in the sector's growth potential. This development could lead to increased economic activity in the region, offering new employment opportunities and supporting local businesses. It also indicates a trend towards larger, more sophisticated storage facilities to meet diverse consumer needs.

What's Next?

StoreLocal's expansion plans are subject to approval, and if granted, construction will commence on the new facility. The company may continue to seek additional sites for development as part of its growth strategy. Local government and community stakeholders will likely monitor the project's impact on traffic and infrastructure. The success of this facility could encourage other self-storage operators to invest in the region, further boosting the local economy and potentially leading to increased competition in the self-storage market.