Beth – no replies as yet so I’ll jump in.
YES your Owners Corporation can implement the controls that you have referred to by way of a Special Resolution at a General Meeting, where >75% of those in attendance both personally and by proxy would need to vote in favour in order for a Motion to “licence” specific areas of the Common Property (storage area) to each Owner to pass, together with whatever Conditions are deemed necessary.
Clearly, the Motion would need to include and if passed be referenced to a Plan of the storage area showing the dimensions and position of each area to be licensed to individual Owners (lots), but that shouldn’t be too difficult.
Whilst it’s the Owner/s who would hold the licence/s, any tenants of their Lots could also benefit.
A Special By-Law would not be necessary, as Sect 65B of the Strata Schemes Management Act already applies (https://www.austlii.edu.au/au/legis/nsw/consol_act/ssma1996242/s65b.html).