With the interims in April, Lok’nStore highlighted a pipeline of seven new stores. Today, the group has announced the acquisition of a further two new freehold sites as part of its strategy to develop landmark stores. The pipeline will now add 39% to owned freehold trading space and 32% to total space. We make no change to our short-term NAV-based price target of 521p but highlight that our 10-year target of £10 is now largely justified by the current portfolio and pipeline, with
11 Jun 2018
Growing pipeline of long-term assets
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Growing pipeline of long-term assets
Lok'nStore Group plc (LOK:LON) | 1,122 56.1 0.4% | Mkt Cap: 369.3m
- Published:
11 Jun 2018 -
Author:
Guy Hewett -
Pages:
6
With the interims in April, Lok’nStore highlighted a pipeline of seven new stores. Today, the group has announced the acquisition of a further two new freehold sites as part of its strategy to develop landmark stores. The pipeline will now add 39% to owned freehold trading space and 32% to total space. We make no change to our short-term NAV-based price target of 521p but highlight that our 10-year target of £10 is now largely justified by the current portfolio and pipeline, with