{"id":923,"date":"2022-02-24T17:49:06","date_gmt":"2022-02-24T17:49:06","guid":{"rendered":"https:\/\/listselfstorage.com\/uk\/industry-insights\/?p=923"},"modified":"2022-02-24T17:49:06","modified_gmt":"2022-02-24T17:49:06","slug":"uk-self-storage-operator-loknstore-releases-financial-results-for-half-year-ending-january-2022","status":"publish","type":"post","link":"https:\/\/listselfstorage.com\/uk\/industry-insights\/uk-self-storage-operator-loknstore-releases-financial-results-for-half-year-ending-january-2022\/","title":{"rendered":"UK Self-Storage Operator Lok&#8217;nStore Releases Financial Results For Half Year Ending January 2022"},"content":{"rendered":"<p><!-- VideographyWP Plugin Message: Automatic video embedding prevented by plugin options. --><br \/>\n<span style=\"font-family: Arial, sans-serif;\"><span style=\"font-size: medium;\">U.K. self-storage operator Lok&#8217;nStore Group PLC has released financial results for the half-year that ended Jan. 31, 2022. The company\u2019s revenue increased 34.1% over the same time the previous year. The surge was driven by significant improvements in occupancy and pricing, according to a company press release.<\/span><\/span><\/p>\n<p><span style=\"font-family: Arial, sans-serif;\"><span style=\"font-size: medium;\">Company shares increased 1.5% to \u00a310.28. The price per square foot of occupied space increased by 18.5%, and unit occupancy was up 6% over 12 months.<\/span><\/span><\/p>\n<p><span style=\"font-family: Arial, sans-serif;\"><span style=\"font-size: medium;\">Lok\u2019nStore recently sold four of its facilities but will continue to manage them. It\u2019ll use the \u00a337.2 million generated from the transaction to develop new properties. The company has 12 projects underway, with five expected to open in mid-2023. Once complete, the facilities will grow the operator\u2019s rentable square feet by nearly 50%.<\/span><\/span><\/p>\n<p>\u201c<span style=\"font-family: Arial, sans-serif;\"><span style=\"font-size: medium;\"><em>This is a busy and exciting time for Lok&#8217;nStore. Our pipeline of new stores, increasing lettable space by 49.2%, will enable Lok&#8217;nStore to increase the rate of dividend growth for shareholders going forward<\/em>,\u201d said Andrew Jacobs, executive chairman.<\/span><\/span><\/p>\n<p><span style=\"font-family: Arial, sans-serif;\"><span style=\"font-size: medium;\">Founded in 1995, Lok\u2019nStore builds, buys, or leases large warehouses or industrial buildings and rents storage units to customers on a weekly basis. It operates 38 self-storage facilities in Southern England.<\/span><\/span><\/p>\n<p><a href=\"https:\/\/www.insideselfstorage.com\/united-kingdom\/uk-self-storage-operator-loknstore-releases-financial-results-half-year-ending\"><strong>Source<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.K. self-storage operator Lok&#8217;nStore Group PLC has released financial results for the half-year that ended Jan. 31, 2022. The company\u2019s revenue increased 34.1% over the same time the previous year. The surge was driven by significant improvements in occupancy and pricing, according to a company press release. Company shares increased 1.5% to \u00a310.28. The price per square foot of occupied space increased by 18.5%, and unit occupancy was up 6% over 12 months. Lok\u2019nStore recently sold four of its facilities but will continue to manage them. It\u2019ll use the \u00a337.2&hellip;<\/p>\n","protected":false},"author":13,"featured_media":924,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[],"gutentor_comment":0,"_links":{"self":[{"href":"https:\/\/listselfstorage.com\/uk\/industry-insights\/wp-json\/wp\/v2\/posts\/923"}],"collection":[{"href":"https:\/\/listselfstorage.com\/uk\/industry-insights\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/listselfstorage.com\/uk\/industry-insights\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/listselfstorage.com\/uk\/industry-insights\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/listselfstorage.com\/uk\/industry-insights\/wp-json\/wp\/v2\/comments?post=923"}],"version-history":[{"count":1,"href":"https:\/\/listselfstorage.com\/uk\/industry-insights\/wp-json\/wp\/v2\/posts\/923\/revisions"}],"predecessor-version":[{"id":925,"href":"https:\/\/listselfstorage.com\/uk\/industry-insights\/wp-json\/wp\/v2\/posts\/923\/revisions\/925"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/listselfstorage.com\/uk\/industry-insights\/wp-json\/wp\/v2\/media\/924"}],"wp:attachment":[{"href":"https:\/\/listselfstorage.com\/uk\/industry-insights\/wp-json\/wp\/v2\/media?parent=923"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/listselfstorage.com\/uk\/industry-insights\/wp-json\/wp\/v2\/categories?post=923"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/listselfstorage.com\/uk\/industry-insights\/wp-json\/wp\/v2\/tags?post=923"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}