Self Storage Group ASA has entered into an agreement to acquire a land property in Kampenesmosen in Sarpsborg, Norway.
The transaction has a value of NOK 4.6 million.
Self Storage Group will develop the plot into a purpose-built self-storage facility with a potential lettable area of 2000 square meters (21,527.82 Sq. ft.). The facility is projected to open in 2023, and will be operated under the City Self Storage brand.
“The property is located in Sarpsborg in Viken county. The Sarpsborg/Fredrikstad region is the 5th largest metropolitan area in Norway. 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 (1,779,274.39 Sq. Ft.)
as of Q3 2021.
