Self Storage Group ASA - Acquisition of properties in Kongsberg and Hønefoss
(Oslo, July 2nd 2020) Self Storage Group ASA (Self Storage Group, OSE:SSG) has entered into an agreement with Lagerbygg AS to acquire two properties in Norway; Skrubbemoen in Kongsberg, and Hensmoveien 8 in Hønefoss. The transaction has a combined property value of NOK 10,75 million, with an estimated lettable area of 1100 square meters. The facilities will be operated under the OK Minilager brand.
"These acquisitions are 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. Both Kongsberg and Hønefoss are smaller markets in the Eastern Part of Norway where we see growth potential, says Fabian Søbak, CEO of Self Storage Group.
The transaction is expected to be closed during the 4th quarter of 2020. The facilities will be opened during 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 square meters as of Q1 2020.