Self Storage Group ASA has entered into an agreement to acquire a property in Gandsbakken 2 in Stavanger, Norway. The transaction has a value of c. €1m and the property has a potential lettable area of 950m2. 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 Hillevag, Stavanger. The property has a large catchment area, just south of the city centre 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” said Fabian Sobak, Chief Executive Officer of Self Storage Group.