Self Storage Group ASA - Acquisition of property in Halden
(Oslo, November 24th 2021) Self Storage Group ASA (Self Storage Group, OSE:SSG) has entered into an agreement to acquire a property in Sørliveien 84 in Halden, Norway. The transaction has a property value of NOK 8 million, with an estimated lettable area of 1400 square meters. The transaction is expected to be closed during the 1st quarter of 2022.
The property is a section in the same building where SSG owns and operates an existing facility under the City Self Storage brand. “With this acquisition SSG will get ownership of the whole building, enabling additional expansion of the facility. With this investment we will strengthen our position as market leader in the Østfold Region, 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”,says Fabian Søbak, CEO of Self Storage Group.
The property is currently occupied by one tenant, and conversion into self-storage will be performed when the existing lease contract expires.
For additional information, please contact: Cecilie Brænd Hekneby, CFO, +47 99 29 38 26
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 126 facilities across Scandinavia with a current lettable area of 165 300 square meters as of Q3 2021.