StockMarketWire.com - Lok'nStore has received an additional £2m from the purchaser of the original Reading store site in return for the relinquishment of all remaining rights to receive further payments in connection with the sale of the property. T

his sum is in addition to the £2.9m received from the purchaser in 2014, taking the total consideration to £4.9m.

This agreement represents a full discharge by the purchaser of any further amounts due.

Chief executive Andrew Jacobs said, "This is great news on our Reading site and new store. These additional proceeds will be recycled into our opening programme of highly visible purpose-built new stores. Our new purpose-built 48,000 square feet store in Reading which opened in October 2014 is trading very well and we are excited about our new Southampton and Bristol stores which will open next year."




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