Half year revenue up 11pc for Lok'nStore
Lok'nStore, the fast-growing self-storage company, saw revenue rise 11 per cent in the six months to the end of January.
The company has a store at Churchbirdge, Oldbury with a site in Wolverhampton being built.
The 52,600 sq ft store at Pantheon Park is expected to open at the start of 2022.
Under Government CoviD-19 rules, self-storage businesses have been designated as essential services and are permitted to operate during the lockdowns.
Lok'nStore provides storage solutions for many customers in essential services including health care, emergency services and food distribution.
At the end of January occupancy was up 24.7 per cent – a gain of 175,897 sq ft over 12 months.
In supporting customers, Lok'nStore has chosen not to implement price increases to existing customers throughout the pandemic.
Lok'nStore said it is continuing to make significant progress on its new store pipeline of 11 sites with work having started at four which are all scheduled to open by the end of 2021 or early 2022.
Executive chairman Andrew Jacobs said: "Since the pandemic started, all of our teams have worked tirelessly to keep our stores open while keeping themselves and our customers safe. As an essential part of the local communities in which we operate, our people have been helping new and existing customers through extremely difficult times. I am proud of, and often humbled by their efforts."
