The Lok’nStore Group at a glance
- 42 trading storage centres
- Three stores opening in 2023 / at least three in 2024
- Over 16,000 customers
- Over 195 Employees
Lok’nStore Group Plc is one of the leading companies in the fast-growing UK self-storage market. We opened our first self-storage centre in 1995 and have grown consistently over the last 28 years, currently with 42 self-storage centres trading mainly in Southern England. We have been listed on the AIM Market since June 2000 and the board accounts for 3.04% of the Total Voting Rights (TVR) in the ordinary shares of the Company.
We offer self-storage from our own stores and management services to third-party storage owners. Self-storage and other storage services are available to both household and business customers at our highly branded Lok’nStore centres.
Lok’nStore’s Opportunity in the Market
The Self-Storage Association UK (SSA UK) Annual Industry Survey 2021 notes that public awareness of and demand for self-storage is increasing. We know that on average, customers choose a store within 5 miles of their home or business. With a pipeline of secured stores and a continuing program of evaluating further site opportunities, Lok’nStore is well-placed to attract these customers and add further momentum to the growth of our sales and profits.
Combining the Group’s competitive strengths (recognised brand, excellent customer service, rigorous cost control) and the attractive market dynamics of the storage sector (growing sector, undersupply, resilience during an economic downturn) with our strong balance sheet and flexible operating and ownership model (see our portfolio strategy), we believe Lok’nStore can take advantage of the opportunities presented and continue its growth without significantly increasing risk.
Our Business Model
Our overriding objective is to steadily increase the Cash Available for Distribution (CAD), enabling a predictable growth of the dividend from a solid asset base and conservatively geared balance sheet.
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How we create value
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All data correct 30th June 2023.