Self-storage firm Lok’nStore plans to add almost 50% to its trading space after revenue rose by 10%.
In a trading update, the fast-growing self-storage company said same-store revenue was up by 10.3%, and the average price per square foot was up by 9.2%. Net asset value has remained broadly unchanged.
Chair Andrew Jacobs said: “When fully developed, our current new store pipeline will add 48.8% to our owned trading space.”
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Including:
The site will be turned into 261 short stay serviced bedrooms
Rising remote and video appeals offer an opportunity to reduce space
JV plans for 166,500 sq ft of Grade A urban logistics development granted
The 82-acre land has a potential to deliver 1.2m sq ft of logistics space
