Lok’nStore has boosted revenues by 17.3% as it looks to add space.
The AIM-listed self-storage company said occupancy and pricing had remained high following 2021’s record-breaking year. Self-storage revenue was up by 17.3%, while same-store revenue was up by 24.9%.
However, occupancy dipped from 85.8% to 80.3% as more stores came online, with the amount of let space rising by 55,500 sq ft over the quarter.
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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
