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

(Oslo, March 17th 2023) Self Storage Group ASA (Self Storage Group, OSE:SSG) has entered into an agreement to acquire a property in Pilotveien in Kristiansund, Norway. The transaction has a value of NOK 16.5 million and the property has a potential lettable area of 1250 square meters. The facility is projected to open in Q1 2024 and will be operated under the City Self-Storage brand.

“We are pleased to announce the acquisition of this property in Kristiansund. The property has a great location, close to the airport, and only a few kilometers from the city center. Following this acquisition, SSG will have two facilities in Kristiansund, and a total of 5 facilities in the Møre and Romsdal region. 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 135 facilities across Scandinavia with a current lettable area of 185 800 square meters as of Q4 2022.