More good news from self-storage sites operator Lok’nStore (LON: LOK) which confirms that core revenues are soaring through a combination of new openings, increasing occupancy and price rises.
Self-storage revenues increased by 21% over the year to July 2021, which is well ahead of forecasts. The first half growth rate was 11%. Over the 12-month period, occupancy rates have increased from 69.6% to 85.8%.
Prices were 8.7% higher by the end of the period, but this will have more of an effect in the new financial year. Prices had dipped in the first half.
There are 13 more sites in the pipeline w...
