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2019-04-10 11:57:46
(Oslo, 10 April 2019) Reference is made to the announcement made 21 December 2018 by Self Storage Group ASA (OSE: SSG) concerning the signed agreement to acquire Breivollveien 25C AS. We are pleased to announce that the conditions subject to closing are waived, and that the transaction has been completed. The transaction has a property value of NOK 42.5 million. Breivollveien 25C is centrally located at Alnabru, Oslo. The property is highly visible from E6, one of the busiest highways in Norway. Self Storage Group will develop the property into a purpose-built self-storage flagship facility with gross 7,000 square meters under the City Self Storage brand. “The acquisition is in line with our strategy to grow our freehold portfolio in selected markets. If all goes as planned we look forward to open our new purpose-built flagship facility at Alnabru in 2020” says Martin Nes, Chairman of Self Storage Group. Breivollveien 25C is located close to the city centre in an area of Oslo that is prioritised as a main residential development area towards 2030, with 200,000 residents within a 4 km radius and with plans for a metro line extension. “The demand for self-storage in Norway is growing, as urbanization and smaller living spaces cause increasing need for external storage solutions. This new property ticks all the boxes in our expansion strategy," says Nes. The planned development of the property is subject to final building permits. 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 101 sites across Scandinavia with a current lettable area of 117 000 square meters.