Self Storage Group ASA - Acquisition of property in Esbjerg, Denmark
(Oslo, June 29th 2022) Self Storage Group ASA (Self Storage Group, OSE:SSG) has entered into an agreement to acquire a property in Øresundsvej 12 in Esbjerg, the 5th largest city in Denmark. The transaction has a value of DKK 6.6 million and the property has a potential lettable area of 900 square meters. The facility is projected to open in Q1 2023, and will be operated under the City Self Storage brand.
"We are pleased to announce this acquisition, which marks the start of our organic growth plans in Denmark. The Esbjerg facility will be the 7th SSG freehold facility in Denmark. Following this acquisition, SSG has 28.500 current lettable area and 5.300 lettable area under development in the Danish market. This acquisition is in line with our strategy to grow our freehold portfolio in selected markets. There is a growing demand for our services, as urbanization and smaller living spaces cause 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 129 facilities across Scandinavia with a current lettable area of 176 200 square meters as of Q1 2022.