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

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(Oslo, October 6th 2022) Self Storage Group ASA (Self Storage Group, OSE:SSG) has entered into an agreement to acquire a property in Fidjemoen in Kristiansand, Norway. The transaction has a value of NOK 19 million and the property has a potential lettable area of 2300 square meters. The facility is projected to open in Q2 2023 and will be operated under the City Self Storage brand.

“We are pleased to announce the acquisition of this property in Fidjemoen, just west of Kristiansand. SSG already has one development project east of Kristiansand. With two City Self Storage facilities opening in Kristiansand next year, SSG will get a dominant market position in the region in combination with our existing OK minilager facilties. Kristiansand is Norway´s 6th largest city. 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 180 500 square meters as of Q2 2022.