StockMarketWire.com - Lok'nStore has acquired two landmark sites for new stores in Wellingborough and Gillingham.

The two sites are in prominent retail locations with large catchment areas and little established competition.

Both sites have been acquired subject to planning. The total capital investment of approximately £10 million will be financed from cash flow and the banking facility signed in January 2016. The stores are scheduled to open at the end of 2017.

When developed these stores will add around 110,000 sq. ft to the trading portfolio increasing the company's capacity of owned stores by 10%. They will take the proportion of Lok'nStore's space which is new or purpose built to 62%. The Company will then be operating 28 self-storage centres.




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