OSLO: Self Storage Group ASA has entered into an agreement to acquire a property in Pindsleveien 8C in Sandefjord, Norway for NOK 14.1 million.
The facility is projected to open during Q2 2021. Pindsleveien 8C will be operated under the OK Minilager brand.
“The property is centrally located at Pindsle, the largest commercial area in Sandefjord. With this new investment, we will strengthen our position as market leader in Vestfold & Telemark region. This acquisition is in line with our strategy to grow our freehold portfolio in selected markets. There is a growing demand for self-storage in Norway, as urbanization and smaller living spaces cause an increasing need for external storage solutions”, says Fabian Søbak, Chief Executive Officer of Self Storage Group.
The transaction is expected to be closed during the 4th quarter of 2020.
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 113 facilities across Scandinavia with a current lettable area of 142 100 m2 as of Q2 2020.