Alpha makes £3m self-storage buy

Aim-listed storage group Lok’n Store yesterday announced it had sold a store in Kent, to Alpha Real Capital, the fund management business whose partners include Icap chief executive Michael Spencer, for £2.9m. The group said it will continue to manage the store, which made earnings of £221,724 in the last financial year. Alpha said self-storage provided “a strong, operating cash flow with solid asset backing”.