Syndicate Introduction

This syndicate was the first "Storage King" acquisition issued under a prospectus by Quantum Syndicate Management Ltd. The investment offered interests in Quantum Property Syndicate No.1 (a registered managed investment scheme that purchased the property) and shares in SK St Peters Pty Ltd (that purchased the business) via a stapled security agreement. The agreement entails that the syndicate members will lease the property to the company to operate a self-storage business.

51-61 Princess Hwy is a small building with excellent road frontage to Princess Hwy of some 40m. The building is fitted out with steel storage sheds.

The syndicate purchased the property and the current self-storage business in May 2000.

The property is occupied by the storage facility that is owned by the syndicate.

The storage business was purchased with an occupancy yield of below $194 per sqm. The Management has increased this occupancy yield to an average of $252 per sqm for the 2002 financial year