Self Storage Group ASA (Self Storage Group, OSE: SSG) has entered into an agreement to acquire a land property in Skien, Norway. The transaction has a value of NOK 8.5 million. SSG has also signed an agreement with Seltor AS, which will construct a purpose-built self-storage facility on the land plot. The contract with Seltor AS has a value of NOK 29.6 million. The property has a potential lettable area of 3100 square meters.
The facility is projected to open in Q2 2023 and will be operated under the city Self Storage brand.
“We are pleased to announce this acquisition and development at Rødmyr in Skien. With the investment in this greenfield project, we will bring the City Self-Storage brand to Grenland, 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.
