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

(Oslo, Jan 9th 2023) Self Storage Group ASA (Self Storage Group, OSE:SSG) has entered into an agreement to acquire a property in Sandviken in Bergen, Norway. The transaction has a value of NOK 7,5 million and the property has a potential lettable area of 430 square meters. The facility is projected to open in Q3 2023 and will be operated under the OK Minilager brand.

“We are pleased to announce the acquisition of this property in Sandviken, Bergen, Norway´s 2nd largest city. The property has a central location, close to NHH (the Norwegian School of Economics), and only a few kilometers from Bergen city center. SSG has one facility in operations, and two other facilities under development in the Greater Bergen area. Including the investment in this property in Sandviken, SSG will open more than 400 storage units in the region in 2023. This acquisition is in line with our strategy to grow our freehold portfolio in selected markets. The demand for self-storage is growing, and the demand has proven to be resilient during previous recessions. Especially urbanization and smaller living spaces are causing an increasing need for external storage solutions” 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 131 facilities across Scandinavia with a current lettable area of 182 600 square meters as of Q3 2022.