Lok’nStore has announced the sale and manage-back of four of its freehold stores for a net £37.2m (gross £39.0m). £37.2m is a 17% increase on the July 2021 valuation (23% gross) and represents 24x historic EBITDA. The proceeds from the sale of these stores, 3 of which were conversions of existing buildings, will be reinvested into new, faster-growing, purpose-built landmark stores, further increasing the potential for Lok’nStore to generate long-term value. This deal evidences the continued upsi ....
01 Feb 2022
Lok'nStore - NAV and growth potential enhanced, debt reduced
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Lok'nStore - NAV and growth potential enhanced, debt reduced
Lok'nStore Group plc (LOK:LON) | 1,128 -56.4 (-0.4%) | Mkt Cap: 370.9m
- Published:
01 Feb 2022 -
Author:
Guy Hewett -
Pages:
5
Lok’nStore has announced the sale and manage-back of four of its freehold stores for a net £37.2m (gross £39.0m). £37.2m is a 17% increase on the July 2021 valuation (23% gross) and represents 24x historic EBITDA. The proceeds from the sale of these stores, 3 of which were conversions of existing buildings, will be reinvested into new, faster-growing, purpose-built landmark stores, further increasing the potential for Lok’nStore to generate long-term value. This deal evidences the continued upsi ....