Lok'nStore

Lok'nStore Group PLC[1] 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.[2]

Lok'nStore Group Plc
TypePublic
LSE: LOK
IndustryStorage
Founded1995
HeadquartersFarnborough, Hampshire, UK
Number of locations
42 (June 2023)
Key people
Andrew Jacobs (Chair),
Ray Davies (Finance Director),
Neil Newman (Managing Director),
Tom Lampard (Property Director)
Revenue
  • Increase £26.9 million. Up 22.9% (2021: £21.9 million)
Number of employees
185 (2023)
Websitewww.loknstore.co.uk

History

Lok'nStore was founded in February 1995 from one freehold store in Horsham, by Andrew Jacobs. Six years later the business became a public company.

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]

Board of directors
A typical Lok'nStore facility
Lok'nStore Warrington.
Lok'nStore in Warrington.

Andrew Jacobs (Chair)

Ray Davies (Group Finance Director)

Neil Newman-Shepherd (Group Managing Director)

Tom Lampard (Property Director)

Jeff Woyda (Senior Independent Non-Executive Director)

Simon Thomas (Non-Executive Director)

Richard Holmes (Non-Executive Director)

Charles Peal (Non-Executive Director)

References
  1. Lok'nStore Limited and Lok'nStore Group PLC are limited companies registered in England and Wales. Registered numbers: 2902717 and 4007169 respectively.
  2. Mann, Harriet (19 October 2015). "Lok'nStore still undervalued". iii.co.uk. Retrieved 28 August 2017.
  3. Foley, Stephen. "Lok'n Store shares soar on bid approach". Retrieved 17 December 2019.
  4. "Site revaluation holds key to Lok'nStore's future". Independent.co.uk. 22 March 2004.
  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

Official website: www.loknstore.co.uk


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