Self Storage Group ASA - Acquisition of new property in Kristiansund, Norway
(Oslo, September 19th 2018) Self Storage Group ASA (Self Storage Group, OSE:SSG) has entered into an agreement with Albert E. Olsen Holding AS to acquire AEO Eiendom Kristiansund AS. AEO Eiendom Kristiansund AS is the owner of the property Verkstedveien 6B in Kristiansund, Norway. The transaction has a property value of NOK 5 million, with an estimated lettable area of 800 square meters. Verkstedveien 6B will be operated under the OK Minilager brand.
"With this acquisition we strengthen our position as market leader in the region of Møre and Romsdal. 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. Verkstedveien 6B has great visibility and easy access. The property is located at Løkkemyra, an area with several big-box retailers, which is an attractive location for our self storage concept, says Martin Nes, Chairman of Self Storage Group.
The facility will be opened during the 2nd quarter of 2019. The transaction is expected to be closed during the 4th 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. As of 19 September 2018 Self Storage Group operates 96 sites across Scandinavia with a current lettable area of more than 115,000 square meters.