Lok'nStore

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Lok'nStore Group Plc
Public
Traded asLSELOK
IndustryStorage
Founded1995
HeadquartersFarnborough, Hampshire, UK
Number of locations
34
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 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, 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.

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[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]

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[edit]

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


References[edit]

  1. ^ a b 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.[permanent dead link]
  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/

External links[edit]