Acquisition of new property in Trondheim, Norway
(Oslo, May 22nd 2018) Self Storage Group ASA (Self Storage Group, OSE:SSG) has entered into an agreement to acquire a property in Trondheim, Norway. This investment is a greenfield project, projected to open during 2019. The transaction has a property value of NOK 8,5 million. When built, the facility will be SSG´s 2nd freehold facility in Trondheim, and it will be operated under the City Self Storage brand.
"With this acquisition we strengthen our position in Norway´s 3rd largest city. This acquisition is in line with our strategy to grow our freehold portfolio in selected markets. There is a growing demand for self storage in Norway, as urbanization and smaller living spaces cause an increasing need for external storage solutions. The new property is located in Tiller, about 7 kilometers south of the city centre of Trondheim and close to living areas and the shopping centre City Syd. The property has great visibility and easy access from main roads, an optimal location for self storage. We look very much forward to open this large purpose-built facility which also will be the first facility operated under the City Self Storage brand outside Greater Oslo in Norway." says Martin Nes, Chairman of Self Storage Group.
The new purpose-built facility in Trondheim is estimated to open during 2019. The transaction is expected to be closed during the 2nd quarter of 2018.
For additional information, please contact:
Cecilie Hekneby, CFO, +47 99 29 38 26
About Self Storage Group|www.selfstoragegroup.no
Self Storage Group ASA engages in the business of renting out self storage units to both private individuals and businesses through the two concepts; OK Minilager and City Self-Storage. The company is one of the leading self storage providers in Scandinavia with a particularly strong position in the Norwegian market. Self Storage Group operates 92 sites across Scandinavia with a total lettable area of more than 110,700 square meters.