Self Storage Group ASA - Acquisition of new property in Stavanger
(Oslo, June 5th 2020) Self Storage Group ASA (Self Storage Group, OSE:SSG) has entered into an agreement to acquire Higil Invest AS. Higil Invest AS is the owner of a property in Kvalebergveien 21, Stavanger, Norway. The transaction has a property value of NOK 5,2 million, with an estimated lettable area of 350 square meters. The property is the neighboring property of SSG´s existing facility in Hillevåg, Stavanger.
"With this acquisition we strengthen our position as market leader in the Greater Stavanger Region. The 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. With this expansion we will exceed a total of 1000 storage units in the Greater Stavanger region, the 3rd most populous urban area in Norway, says Fabian Søbak, CEO of Self Storage Group.
The transaction is expected to be closed during the 2th quarter of 2020. The facility will be opened 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 113 facilities across Scandinavia with a current lettable area of 140 300 m2.