Self Storage Group ASA - Acquisition of new property in Nordre Follo, Norway
(Oslo, August 10th 2020) Self Storage Group ASA (Self Storage Group, OSE:SSG) has entered into an agreement to acquire a property in Håndverksveien 2 in Nordre Follo, Norway. The transaction has a property value of NOK 25 million, with an estimated lettable area of 1300 square meters. The facility is projected to open during Q2 2021. Håndverksveien 2 will be operated under the City Self-Storage brand.
"The property is centrally located in Nordre Follo, with easy access and great visibility. With this new investment, we will strengthen our position in the Greater Oslo area. Håndverksveien 2 has a significant catchment area in a growing region with several new large housing projects. 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 says Fabian Søbak”, Chief Executive Officer of Self Storage Group.
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 113 facilities across Scandinavia with a current lettable area of 140 300 square meters as of Q1 2020.