Self-storage group Lok’n Store sees occupancy jump 10 per cent

Kasmira Jefford
Follow Kasmira
SELF-storage firm Lok’n Store said yesterday that the amount of space being used at its sites to stow away belongings had jumped by 10 per cent on last year.

The Aim-listed group said like-for-like occupancy levels increased to 64.5 per cent in the year to

31 July on the same time last year.

“In the second half of our financial year occupancy levels across the portfolio have continued to increase,” chief executive Andrew Jacobs said in a pre-close trading statement yesterday.

“Revenue and occupancy growth from our existing stores, combined with the opening of the new Maidenhead store later this year and the Aldershot store in 2014 will provide continued impetus for our sales growth,” he added.

The company, which is focused on London and the south east, will own around 22 freehold sites following the opening of the two new stores this year.

Around 77 per cent of Lok’n Store’s 7,000 customers are households and the rest businesses, according to the group’s 2012 annual report.