Self Storage Group ASA - Acquisition of new property in Haugesund, Norway

(Oslo, November 3nd 2020) Self Storage Group ASA (Self Storage Group, OSE:SSG) has entered into an agreement to acquire a property in Årabrotsvegen 19 in Haugesund, Norway. The transaction has a property value of NOK 9 million, with an estimated lettable area of 950 square meters. The property also has additional development potential. The facility is projected to open during Q2 2021. Årabrotsvegen 19 will be operated under the OK Minilager brand.

"The property is centrally located at Kvala, a few kilometers north of Haugesund city Centre. Årabrotsvegen 19 will be SSG´s third freehold facility in the Haugaland region. With this new investment, we will strengthen our position as market leader in Haugesund. This acquisition is in line with our strategy to grow our freehold portfolio in selected markets. SSG sees profitable growth potential in both large and small urban 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”, says Fabian Søbak”, Chief Executive Officer of Self Storage Group.

The transaction is expected to be closed during the 4th quarter of 2020.

For additional information, please contact: Cecilie Brænd 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 115 facilities across Scandinavia with a current lettable area of 146 200 square meters as of Q3 2020.