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

(Oslo, October 31th 2023) Self Storage Group ASA (Self Storage Group, OSE:SSG) has entered into an agreement to acquire a property in Gandsbakken 2 in Stavanger, Norway. The transaction has a value of NOK 10,85 million and the property has a potential lettable area of 950 square meters. The facility is projected to open in Q3 2024 and will be operated under the OK Minilager brand.

“We are pleased to announce the acquisition of this property in Hillevåg, Stavanger. The property has a large catchment area, just south of the city center of Stavanger. SSG is the market leader in the region with 8 existing facilities. Stavanger/Sandnes is Norway´s 3rd largest metropolitan area. 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 142 facilities across Scandinavia with a current lettable area of 196 000 square meters as of Q2 2023.