After falling into receivership in 2012, Storage King Wellington (New Zealand) has finally been sold by the Receivers, with Kennards Self Storage successfully claiming it.
Kennards secured the purchase of the property just prior to Christmas after a second marketing campaign run by Colliers. The Receivers and Colliers first attempt to sell the asset was in July 2012.
For Australian-based Kennards, the Wellington acquisition gives it a 9th New Zealand location and is the company’s 80th across both countries.
Located at 19 Hutt Road, Thorndon it is 2 km’s from Wellingtons CBD and enjoys strong exposure to the motorway. The storage centre has 1,100 spaces and trading at 67% occupancy.