StockMarketWire.com - Storage company Lok'nStore said it had increased its banking facility to £50m and would partly use the funds to acquire a freehold site for a new store in Leicester.

The new facility with Royal Bank of Scotland runs until January 2023, with the interest rate set at Libor plus a 1.40%-1.65% margin.

The company said the new one-acre store site which would entail a total investment of £8.5m.

'This site brings our total secured pipeline of new stores to seven to add to our existing 28 trading stores,' the company said.

'Further sites are under consideration as the company pursues its growth strategy.'


At 2:23pm: [LON:LOK] Lokn Store Group PLC share price was +7.5p at 405p



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