As an investment

Cityvarasto as an investment

The cornerstones of Cityvarasto’s operations are a proven business model, accessibility of service locations, strong growth potential, and a change and development model focused on sustainable development.

Cityvarasto is the leading player in its field in terms of number of facilities

Cityvarasto is the largest self-storage platform in Finland in terms of number of facilities. As at 30 June 2025, Cityvarasto had 72 self-storage facilities with more than 13,000 self-storage units available for rent. 61,000 square metres was rentable as self-storage space (including approximately 4,000 square metres of rentable storage containers).

According to the Company's management, Cityvarasto has a leading property portfolio and geographic presence in its field as it is also the only player in Finland with nationwide network. Most competitors operate only through one or two self-storage facilities, and the second largest player in Finland operates through 16 facilities (Source: Member information of the Finnish Self Storage Association).

Cityvarasto's customer reach is evidenced by its total facility reach of approximately 3.2 million people, corresponding to around 60 per cent of the population of Finland living within 15 minutes of Cityvarasto's self-storage facilities, including practically all residents of Helsinki metropolitan area, Tampere and Turku (Source: Statistics Finland and ESRI).

In addition to self-storage units, the Company leases various mixed-use facilities, which as at 30 June 2025 amounted to approximately 56,000 square metres. The Company aims to convert the mixed-use spaces into self-storage facilities to the extent possible over time.

Cityvarasto has a proven business model

Cityvarasto is able to leverage its one-stop-shop concept with digital native and technology-driven operations. The self-storage and ancillary services offering is provided to customers by almost fully autonomous facilities and digital customer journey, which enable customers to assess and choose self-storage units and ancillary services, and sign contracts. Cityvarasto also uses dynamic pricing to optimise the rental pricing level and occupancy of its self-storage facilities depending on real-time market conditions. The Company's self-storage units are primarily rented on a month-to-month basis and rentals are renewed automatically unless the agreement is terminated.

With the ancillary services, i.e. van rental and moving services, Cityvarasto is able to offer all services related to moving and storage. One strategic focus area of PakuOvelle.com's business is to bring visibility in traffic with its vans also to Cityvarasto and the group's self-storage services.

In its real estate business, the Company utilises a conversion model, which consists mainly of acquiring properties that are in the final stages of their lifecycle for their previous intended use and converting and developing them to be adapted for the Company's self-storage business. Cityvarasto also aims to acquire smaller self-storage companies. According to the Company's management, the functioning of Cityvarasto's business model is also demonstrated by the fact that Cityvarasto's net sales compound annual growth rate (CAGR) was approximately 20 percent between 2015 and 2024.

Sustainable development focused conversion model

In accordance with Cityvarasto's strategy, when acquiring and renting new properties, the location with good transport connections near potential customers are considered. In accordance with the conversion model, by acquiring properties that are in the final stages of their lifecycle for their previous intended use and converting them cost-effectively into self-storage use, the Company's management believes that it is possible to re-use properties that are often no longer in active use, and turn them into functional property complexes. According to the Company's management, in transactions involving end-of life properties, there is often limited interest from other parties, which, according to the Company's management, allows for negotiations under the more commercially favorable terms. These properties also may offer the Company long-term potential for higher returns based on the Company's development model, which can enable lower investment costs compared to, for example, models based on new construction.