Lok'nStore

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Lok'nStore Group Plc
TypePublic
LSELOK
IndustryStorage
Founded1995
HeadquartersFarnborough, Hampshire, UK
Number of locations
36
Key people
Andrew Jacobs (Executive Chairman),
Ray Davies (Finance Director),
Neil Newman (Managing Director)
Revenue£18.04m to year end 31 July 2020
Number of employees
150+
Websitewww.loknstore.co.uk
A typical Lok'nStore facility
A UK Self Storage centre at night
A UK Self Storage centre

Lok'nStore Group PLC is a provider of self storage space in the UK. The company rents individual, 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 36 centres (August 2020) and is the fourth biggest player in the UK self-storage industry.

The Executive Chairman is Andrew Jacobs,[1] the Finance Director is Ray Davies and the Managing Director is Neil Newman.

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

History[edit]

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]

References[edit]

  1. ^ a b Mann, Harriet (19 October 2015). "Lok'nStore still undervalued". iii.co.uk. Retrieved 28 August 2017. CS1 maint: discouraged parameter (link)
  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. CS1 maint: discouraged parameter (link)[permanent dead link]
  3. ^ Foley, Stephen. "Lok'n Store shares soar on bid approach". Retrieved 17 December 2019. CS1 maint: discouraged parameter (link)
  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

External links[edit]