News & Updates

Find storage near you

Kennards Self Storage Secures its 80th Centre with Opportunistic Wellington Buy

February 06, 2014 by Kennards Self Storage

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.

“This is the best storage location in Wellington” explains Sam Kennard, Managing Director. “The fit out quality is high and it enjoys a superior location. We are excited by this addition to our network”.

Kennards rebranding will be done immediately. The company also intends to undertake significant re-fit of the existing self storage units.

“Currently there is a mismatch in customer demand and actual size mix at this property” Kennard says “we will invest to rectify this, so occupancy can grow to an acceptable level”.

In addition, the property has expansion potential for a further 2,000 square metres of gross floor area.

Kennards paid $5.8 million to secure the property. The sale process was run by Richard Findlay and Tim Julian of Colliers International.

Kennards entered the New Zealand Self Storage market in 2008 with the acquisition of a portfolio and a couple of independent operators. Kennards Self Storage serves the North Island with centres in Auckland, Tauranga, Hawkes Bay, Palmerston North and now Wellington.

Kennards Self Storage

As a proud Family Business you can feel comfortable in storing with People Who Care. We have storage locations everywhere! And space for everyone! Personal and Business Space, Wine Cellars, RV and Boat, Gun Storage and Deposit Boxes. Keep it at Kennards, the People Who Care!

Other stories of interest

May 29, 2024 by Andrew Kirkham

Good Value Can Be Found For Self Storage Prices In Tauranga

The savvy bay of plenty self storer is looking for value, ease and low-cost options when selecting a storage unit, no different to anyone else in another region. 

Read more
May 03, 2024 by Andrew Kirkham

Self Storage Prices In Auckland Are Great Value

It has become common for everyone who thinks about self storage to wonder what use and value can I get? It does not take long to realise its quite a cheap storage option that you wished you looked into earlier.

Read more
May 01, 2024 by Andrew Kirkham

Make Using a Storage Unit Easy With The Kennards Box Shop

It seems like we are in a world where clutter and everyday items seems to accumulate faster than we can manage.

Read more