Self Storage Group ASA - Acquisition of property in Stavanger
(Oslo, June 24th 2021) Self Storage Group ASA (Self Storage Group, OSE:SSG) has entered into an agreement to acquire a property in Petroleumsveien 8 in Stavanger, Norway. The transaction has a property value of NOK 16 million, with an estimated lettable area of 1700 square meters. The transaction is expected to be closed during the 3rd quarter of 2021 and the facility is projected to open during Q1 2022.
The property has a central location at Forus, south of Stavanger. The location has a significant catchment area and easy access from main roads. SSG already owns and operates the neighboring property in Travbaneveien 1. By combining these two properties, this will be the largest self-storage facility in Stavanger with an estimated lettable area of 2500 m2. There is a growing demand for self-storage in Norway, as urbanization and smaller living spaces cause an increasing need for external storage solutions. We are pleased to announce this acquisition, which will strengthen our market leading position in the Stavanger region” says Fabian Søbak, CEO of Self Storage Group.
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 116 facilities across Scandinavia with a current lettable area of 149 400 square meters as of Q1 2021.