(Oslo, 17 November 2017) Self Storage Group ASA (Self Storage Group, OSE:SSG) has entered into an agreement to acquire Treschows gate 3A in Larvik, Norway, with an estimated lettable area of 700 square meters. The transaction has a property value of NOK 4 million and the facility will be operated under the OK Minilager brand.
The acquisition of Treschows gate 3A is in line with our strategy of to grow our freehold portfolio in selected markets. There is an untapped potential for self storage in the cities in Vestfold as urbanization and smaller living spaces cause increasing need for external storage solutions. Treschows gate 3A is the Group's second facility in Larvik and fifth facility in Vestfold, and will further strengthen the Group's position in this region. "We are looking forward to develop this property under the OK Minilager brand," says Fabian Søbak, Chief Executive Officer of Self Storage Group.
Treschows gate 3A is located in the city centre, close to the Town Square, with easy access for our customers. The property will be operational during the second quarter of 2018. The transaction is expected to be closed during the fourth quarter of 2017.
For additional information, please contact:
Cecilie Hekneby, CFO, +47 99 29 38 26
About Self Storage Group|www.selfstoragegroup.no
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 more than 80 sites across Scandinavia with a total lettable area of more than 100,000 square meters.