Asset performance eligibility criteria – Self-storage assets

The following guidance seeks to clarify how the eligibility criteria within the Scope section of the technical manual should be interpreted for Self-Storage assets.

Defining self-storage assets

Self-storage provides space for individuals to rent and store their personal or business belongings. The storage space – also referred to as storage units – is typically rented on a month-to-month basis.  This space will make up the most space for any self-storage asset type.

Typical Scenarios:

  • Local electric heating and cooling to front desk and small office space (relative to storage units)
  • Hot water in the bathroom for staff or the public
  • Space conditioning
    • Storage units are naturally ventilated
    • Storage units are mechanically ventilated but conditioned only to prevent extremes of temperature
    • Storage units are mechanically ventilated and conditioned for temperature, and in some cases humidity


Eligibility Criteria

Criterion 1(a): no more than 20% of the Gross Internal Area (GIA) can be classified as ‘Unfitted’.

As per KBCN1471, this means that at least 80% of the GIA “must be in a finished state, ready for occupation, or already operating in the intended function/process. This ‘finished’ state could be a controlled environment for a manufacturing process, warm or cold storage, IT or other technical operation. Alternatively, this could be an unconditioned internal environment, such as storage or packing and where most likely the only service fitted is electric lighting.”

Criterion 1(b): no more than 20% of the Gross Internal Area (GIA) can be classified as ‘Vacant’.

This requirement would only apply to office or staff spaces within the Self-Storage asset rather than the storage units themselves. The Storage units must be in a condition ready to be leased but do not need to be occupied during the period of assessment.

Criterion 2: The asset must contain occupiable or occupied space(s) designed to be continuously occupied for 30 mins or more per day by a building user.

This is required to assess some criteria and award credits relating specifically to human occupation.

Within Self-Storage assets, office and amenity areas will meet this requirement. The Self-Storage space will also meet this requirement provided it has ventilation, light and energy and access to water supplies.

Criterion 2(b): The asset must have been occupied at least 12 months prior to the start of the assessment.

For Self-Storage assets “occupied” means that office areas must have been occupied and the storage units must be ready to be occupied 12 months prior to the start of the assessment.

Asset Type/Sub-type

This asset type shall be classified as Industrial.

The asset sub-type shall be Distribution and Storage.