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

(Oslo, 8 December 2020) Self Storage Group ASA (Self Storage Group, OSE:SSG) has entered into an agreement to acquire Hoveveien Eiendom AS, which is the owner of the property Hovebakken 29 in Sandnes, Norway. The transaction has a property value of NOK 18 million, with a gross area of 1 900 square meters and an estimated lettable area of 1 300 square meters. The facility is projected to open during Q2 2021. Hovebakken 29 will be operated under the City Self-Storage brand.

“With this acquisition we strengthen our position as market leader in the Stavanger/Sandnes region. This property is centrally located at Kvelluren, 2 kilometers south of Sandnes city centre. The property has easy access and visibility from E39. The location is highly compatible with our existing City Self-Storage facility in Stavanger. This investment 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, CEO of Self Storage Group.

The transaction is expected to be closed during the 1st quarter of 2021.

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.