Self Storage Group ASA (Self Storage Group, OSE:SSG) has entered into an agreement with Mittegetlokale AS to acquire a property under development in Porsgrunn, Norway. The transaction has a value of NOK 17.8 million. The property has a potential lettable area of 1500 square meters. The facility is projected to open in Q1 2023 and will be operated under the City Self Storage brand.
“We are pleased to announce this acquisition in Porsgrunn. SSG recently announced the acquisition of a property in Skien, and with this investment in Porsgrunn, we will get a strong footprint in Grenland, with two City Self Storage facilities. Grenland is Norway´s 7th largest metropolitan area. 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 128 facilities across Scandinavia with a current lettable area of 171 800 square meters as of Q4 2021.
