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

(Oslo, November 26th 2020) Self Storage Group ASA (Self Storage Group, OSE:SSG) has entered into an agreement to acquire a land property in Svelleveien 23 in Lillestrøm, Norway. The transaction has a property value of NOK 7.7 million, with a current lettable area of 930 square meters. The property is an existing OK Minilager leasehold with additional development potential.

"The property is centrally located in Lillestrøm, with easy access from main roads. OK Minilager has rented the property since 2012. With this acquisition we convert a profitable leasehold with stabilized occupancy into a freehold facility. This investment is in line with our strategy to grow our freehold portfolio in selected markets. The property is a great addition to our growing freehold portfolio in the Greater Oslo region”, 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 m2 as of Q3 2020.