Self Storage Group ASA - Acquisition of property in Ålesund, Norway

(Oslo, April 19th 2023) Self Storage Group ASA (Self Storage Group, OSE:SSG) has entered into an agreement to acquire a land plot at Emblem in Ålesund, Norway. The transaction has a value of NOK 9 million and the land plot has a gross area of 3390 m2.

The property is an existing OK Minilager leasehold with additional development potential. OK Minilager currently operate drive-up units on the property with a current lettable area of 700m2. 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.", says Fabian Søbak, Chief Executive Officer of Self Storage Group.

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 135 facilities across Scandinavia with a current lettable area of 185 800 square meters as of Q4 2022.