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Lok 'n' Store - Property disposal triggers profit of nearly £2m

July 2007

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • LOK
  • Price:
  • 264p
Self storage firm Lok ‘n’ Store has announced the acquisition of another freehold site in Southampton, which has 2.16 acres and will provide around 100,000 sq. ft. of lettable space. This new site, which cost £8m, will replace its existing site in Southampton, which currently provides 84,000 sq. ft of space. Separately, the company has sold its freehold site in Woking, the smallest store in its portfolio with just 19,000 sq. ft. for £2.4m, a very substantial gain over its original cost of £444,000 and latest book value of £602,000.More intelligent churning to realise the latent value from its property portfolio as well as increasing lettable space. Broker Bridgewell’s latest fair va ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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