Self Storage Group ASA (Self Storage Group, OSE: SSG) has entered into an agreement to acquire a property in Molandsveien 339 in Arendal, Norway.
The transaction has a value of NOK 7.1 million. The property has a potential lettable area of 850 square meters. The facility is projected to open in Q4 2022 and will be operated under the OK Minilager brand.
“The property is located in Arendal, close to the E-18 highway. With this investment, we will strengthen our number one position in the City of Arendal, and the Agder region. 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 126 facilities across Scandinavia with a current lettable area of 165 300 square meters as of Q3 2021.