Sam Kennard, of Kennards, and Caroline Plowman, of National Mini Storage, outside one of the properties in Auckland. Photo / supplied by Kennards Self Storage
Sam Kennard, of Kennards, and Caroline Plowman, of National Mini Storage, outside one of the properties in Auckland. Photo / supplied by Kennards Self Storage
Low-profile North Shore businessman Dave Tuke has cashed up by selling Auckland’s biggest storage chain which he founded 34 years ago to A$4 billion Australian giant Kennards.
Tuke is the founder of National Mini Storage, now sold to Kennards Self Storage.
Tuke is also managing director of Albany-based commercial propertydevelopers and investors Hughes & Tuke Group, which has a portfolio of investment properties.
Asked by the Herald, he did not want to comment on the huge sale which involves more than 10ha of Auckland land.
A joint statement from Kennards and Tuke’s business said National Mini Storage was founded in 1991 with its first base in Penrose.
That statement did not name Tuke, who has a passion for classic cars.
A Kennards Self Storage outlet, Wairau Valley, North Shore, Auckland. Photo / Kennards Self Storage
“Over the following three decades, it expanded to 13 well-located operating centres across Auckland,” the statement said.
“In 1997, it delivered Australasia’s first purpose-built, multi-level big box self-storage facility with the six-level Cook Street project in Auckland’s CBD,” it said.
That was a significant milestone for the industry, the company said.
“Known for its pioneering approach and unwavering commitment to quality, the company has earned multiple industry awards in recognition of its quality standards and innovation,” it said.
The joint statement indicated Tuke was inspired by a visit to Australia and seeing big new storage outlets there.
“The first facility was developed on land acquired in Penrose, marking the beginning of a steady and strategic expansion. Over the next three decades, the company patiently built a strong presence, acquiring and developing locations across Auckland. Today, National Mini Storage stands as the leading metropolitan storage operator in New Zealand’s largest city,” the statement said.
National Mini Storage chief executive Caroline Plowman said the company had 14 sites of which 13 were developed: 185 Apirana Ave, Glen Innes, near Pak’nSave Glen Innes, is not yet developed into a store, she said.
All properties - land and buildings - were owned directly by National Mini Storage, she said. The business employs about 55 full and part-time staff.
One property on The Strand, Parnell, is not owned by the storage business: the land is owned by Ngāti Whātua. National Mini Storage leases that site on a long-term basis, she said.
The company had about 100,000sq m or 10ha of Auckland land, to house the 13 stores, she said.
The industry had grown fast. About 25% of the 13 stores are leased for commercial purposes. Plowman said the other 75% was leased to people who wanted to store precious items, including home goods, particularly with so many people in Auckland living in apartments.
Kennards Self Storage said it is a family-owned private company with assets valued at over A$4 billion here and in Australia.
Kennards already has 11 stores in New Zealand but buying out Tuke means those rise to 24.
Plowman said all National Mini Store outlets would be re-branded Kennards.
The business was started by Neville Kennard in 1973 with an experimental development of 100-plus storage units in western Sydney.
Sam Kennard was appointed CEO in 1994, when the company had 13 locations.
Now it is one of the largest privately owned self-storage companies in the world, operating 126 locations with 100,939 storage spaces here and in Australia.
Kennards Self Storage is separately owned and operated from Kennards Hire.
The Kennard family separated their interests in 1991, the statement said.
Anne Gibson has been the Herald‘s property editor for 25 years, written books and covered property extensively here and overseas.
