Self Storage Group ASA - Acquisition of property in Vejle, Denmark
(Oslo, Jan 23rd 2023) Self Storage Group ASA (Self Storage Group, OSE:SSG) has entered into an agreement to acquire a property in Friis Hansens vej 9 in Vejle, Denmark. The transaction has a value of DKK 11 million and the property has a potential lettable area of 1400 square meters. The facility is projected to open in Q4 2023, and will be operated under the City Self-Storage brand.
"We are pleased to announce this acquisition in the 9th largest city in Denmark. The Vejle facility will be the 8th SSG freehold facility in Denmark. Following this acquisition, SSG has 28.900 current lettable area and 6.400 lettable area under development in the Danish market. This acquisition is in line with our strategy to grow our freehold portfolio in selected markets. There is a growing demand for our services, as urbanization and smaller living spaces cause 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 182 600 square meters as of Q3 2022.