ELLENBROOK STORAGE KING_

STORAGE KING, ELLENBROOK_

In April 2016 ADC_’s specialist self-storage subsidiary ADC Storage Funds purchased a 5,962 sqm parcel of land situated in the Ellenbrook Town Centre within the award winning residential suburb of Ellenbrook. The property was acquired for the development of Ellenbrook Storage King; a brand new, two level storage facility comprising a total of 461 storage units over 4,380 sqm of net lettable area.

ADC_ oversaw the negotiations with the operator, obtained approvals, and negotiated a construction contract with an experienced self storage builder (StoreCo). Construction of the facility was completed in January 2017, at which time ADC_ then oversaw the operations manager, Storage King, on behalf of the ownership Trust.

ADC_ sold this asset on behalf of the Trust in November 2019 to Abacus Property Group.  The achieved price was attractive enough to close the Trust three years earlier than anticipated.