NSR revealed that it intends to spend over $12m on the self-storage hub, and announced that it wants to change the branding of the facility. The new title for the place is set to be the National Storage South Wharf (NSSW) and this could mean that printing services in Seaford are used for promotional purposes.
Andrew Catsoulis, the managing director for NSR, made this statement about the plan:
“The center is a landmark storage asset and will see National Storage expand its Melbourne presence to 26 centers. Given the asset's size and prominent location, the acquisition will enhance our brand awareness in Melbourne to both local and passing traffic.”
The storage hub contains almost 5,000 square metres of space for rent. The complex includes a tower for telecommunications. The upper floor of the structure incorporates apartments, but it is not thought that this accommodation will be exchanged in the purchase of the property.
According to NSR, the idea is that a debt facility will be brought into play. The overall strategy of the organisation is based partly upon acquisitions.
Spending $17m, the firm recently bought a storage facility elsewhere in the southern suburbs of Melbourne. NSR is now operating in excess of 90 self-storage hubs at locations across Australia.