Lok'nStore

Lok'nStore Group PLC is a provider of self storage space in the UK. The company rents individual, secure storage units to both business and domestic / household customers. Lok'nStore has been listed on the Alternative Investment market (AIM) since June 2000.[1] Lok'nStore was one of the first self-storage companies in the UK, where the concept of self-storage lagged behind the development seen in the US. The Company opened its first centre in 1995.[2] Lok'nStore currently has 34 centres and is the fourth biggest player in the UK self-storage industry.

Lok'nStore Group Plc
Public
Traded asLSE: LOK
IndustryStorage
Founded1995
HeadquartersFarnborough, Hampshire, UK
Number of locations
36
Key people
Andrew Jacobs (CEO),
Simon Thomas (Chairman),
Ray Davies (Finance Director)
Revenue£16.95m to year end 31 July 2019
Number of employees
150+
Websitewww.loknstore.co.uk
A typical Lok'nStore facility
A UK Self Storage centre

The CEO is Andrew Jacobs,[1] the Chairman is Simon Thomas, and the Finance Director is Ray Davies.

Lok'nStore Limited and Lok'nStore Group PLC are limited companies registered in England and Wales. Registered numbers: 2902717 and 4007169 respectively.

History

Lok'nStore opened its first storage centre in Horsham in 1995.

In 2003, the company received a takeover approach valued at around £33m, which was rejected by the Board.[3][4] The company received a further takeover approach in 2009, which also did not proceed.[5]

In December 2018 the company purchased an existing storage business: 'The Box Room' in Hedge End, Southampton. The Box Room building was then rebranded as an orange Lok'nStore centre.

In February 2019, Lok'nStore Group Plc sold a document-storage business, Saracen Datastore Ltd, to Iron Mountain UK PLC for £7.6 million in order to pay down debt and help fund future acquisition and development plans.[6]

Lok'nStore announced their second store partnership with discount retailer Lidl in January 2020, with the shared use of their Cheshunt, Hertfordshire freehold site. The new Lok'nStore self-storage centre and Lidl retail store will follow a similar format to a shared site in Maidenhead and is planned to open in 2021.[7]

Current locations of Lok'nStore storage centres

Aldershot, Ashford, Basingstoke, Bristol, Broadstairs, Cardiff, Chichester, Crawley, Crayford, Dover, Eastbourne, Exeter, Fareham, Farnborough, Gillingham, Gloucester, Harlow, Hedge End, Hemel Hempstead, Horsham, Ipswich, Leicester, Luton, Maidenhead, Milton Keynes, Northampton, Oldbury, Poole, Portsmouth, Reading, Southampton, Sunbury, Swindon, Tonbridge, Wellingborough.

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References
  1. Mann, Harriet (19 October 2015). "Lok'nStore still undervalued". iii.co.uk. Retrieved 28 August 2017.
  2. Bailes, Kathy (25 January 2017). "The former NV Blinds factory in Westwood has been bought for £1.25million". kentlive.news. Retrieved 28 August 2017.
  3. Foley, Stephen. "Lok'n Store shares soar on bid approach". Retrieved 17 December 2019.
  4. https://www.independent.co.uk/news/business/analysis-and-features/site-revaluation-holds-key-to-loknstores-future-5355152.html
  5. https://cdn.loknstore.co.uk/announcements/2009/Announcement_End_of_Offer_Period.pdf
  6. https://cdn.loknstore.co.uk/reports/RNS-Rock-FINAL-010219-LSE-Labelled.pdf
  7. https://investegate.co.uk/lok--39-nstore-group--lok-/rns/update-on-new-store-pipeline/202001080700040642Z/


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