Lok’n Store secures two new sites

Shares in AIM listed self-storage specialist Lok’n Store (LON:LOK) climbed by 4.05% to 434.39p, as at 1300 BST, after the company announced that it has acquired two new freehold sites. The locations in Cardiff and Cheshunt will offer about 105,000 square feet of combined lettable space once development is complete. The acquisitions boost the size of the company’s freehold retail portfolio by approximately 39% and the acquisition and development costs will be funded from existing facilities.

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Management said that it was considering additional sites, with an aim of delivering predictable dividend growth.