Self Storage Group

Business and Financial Review • Oct 31, 2023

Self Storage Group ASA - Acquisition of property in Stavanger, Norway

Self Storage Group ASA - Acquisition of property in Stavanger, Norway

(Oslo, October 31th 2023) Self Storage Group ASA (Self Storage Group, OSE:SSG)

has entered into an agreement to acquire a property in Gandsbakken 2 in

Stavanger, Norway. The transaction has a value of NOK 10,85 million and the

property has a potential lettable area of 950 square meters. The facility is

projected to open in Q3 2024 and will be operated under the OK Minilager brand.

"We are pleased to announce the acquisition of this property in Hillevåg,

Stavanger. The property has a large catchment area, just south of the city

center of Stavanger. SSG is the market leader in the region with 8 existing

facilities. Stavanger/Sandnes is Norway´s 3rd largest metropolitan area. This

acquisition is in line with our strategy to grow our freehold portfolio in

selected markets. The demand for self-storage is growing, and the demand has

proven to be resilient during previous recessions. Especially urbanization and

smaller living spaces are causing 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 142 facilities across Scandinavia with a

current lettable area of 196 000 square meters as of Q2 2023.