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Lok 'n' Store - Kingston sale makes £10m

May 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:
  • 269p
Lok ‘n’ Store has announced the sale of its Kingston site for a better-than-expected £10m. The site, for which it obtained planning permission for 124 flats and a new GP surgery, originally cost just £976,000 in 1996, so this is an outstanding return. Equally impressive is that Lok ‘n’ Store has quickly recycled this money into the acquisition of a new freehold self storage site in Harlow which will cost £5m once fully constructed and fitted out. Lok ‘n’ Store has one other existing self-storage site at Reading, for which it is in the process of gaining planning for another profitable change of use and this could add significant value. ...

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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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