Lok'nStore

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.

Lok'nStore Group Plc
TypePublic
LSE: LOK
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

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

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
  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


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