Lok'nStore Group PLC Update on New Store Pipeline (0642Z)
08 Gennaio 2020 - 8:00AM
UK Regulatory
TIDMLOK
RNS Number : 0642Z
Lok'nStore Group PLC
08 January 2020
08 January 2020
Lok'nStore Group plc
("Lok'nStore", "We", the "Company" or the "Group")
Second collaboration with Lidl and update on the New Store
Pipeline
Lok'nStore, the fast-growing AIM listed self-storage company, is
pleased to announce the following update regarding its pipeline of
new landmark stores.
We have exchanged contracts with Lidl subject to planning on the
shared use of our freehold site in Cheshunt, Hertfordshire. The new
Lok'nStore self-storage centre and Lidl retail store are expected
to open in 2021. This is our second collaboration with Lidl
following our successful project in Maidenhead which opened in
2013.
Lok'nStore has also secured two pipeline sites - in Oldbury,
West Midlands where we have exchanged contracts on an existing new
building which we will fit out to deliver a 42,000 sq ft store. The
store will be open in summer 2020. In Chester, Cheshire, we have
exchanged contracts on a site, subject to planning, to develop a
new landmark store.
Further we have now received planning consent to develop a new
landmark store on our site in Wolverhampton, West Midlands.
Construction of the 50,000 sq ft store will begin shortly and the
store will be open in early 2021.
Construction at our new stores in Leicester and Gloucester is
well underway, with both stores due to open before the end of this
financial year.
Lok'nStore will update the market on trading in the first half
of the financial year on Monday 10(th) February 2020.
Commenting on the progress, Group CEO Andrew Jacobs said:
"We are delighted to have agreed another partnership with Lidl
at our Cheshunt site following our successful collaboration in
Maidenhead which opened in 2013. Lok'nStore Group continues to
implement our strategic objective of opening more landmark stores
as the two recent acquisitions in Chester and Oldbury demonstrate.
Our total new store pipeline is now 15 sites.
With our strong balance sheet and low gearing, we will continue
to build more landmark stores in an undersupplied market, adding
considerable momentum to sales and earnings growth in the coming
years."
- End -
Enquiries:
Lok'nStore
Andrew Jacobs, CEO
Ray Davies, Finance Director 01252 521 010
finnCap Ltd
Julian Blunt/Giles Rolls, Corporate
Finance
Alice Lane, Corporate Broking 020 7220 0500
Camarco
Billy Clegg/Tom Huddart 020 3757 4991
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
UPDBDLLBBFLXBBQ
(END) Dow Jones Newswires
January 08, 2020 02:00 ET (07:00 GMT)
Grafico Azioni Lok'n Store (LSE:LOK)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni Lok'n Store (LSE:LOK)
Storico
Da Apr 2023 a Apr 2024