Self-storage sites operator Lok’nStore (LON: LOK) has sold four of its freehold stores and it will also take on the management of the sites on behalf of the new owners. The £37.2m received for the disposal is 17% more than the previous valuation in July 2021. The cash will finance the pipeline of new sites.
The short-term effect of the disposal is a 3% reduction in earnings per share in 2021-22 and a 6% reduction next year when there will be a full 12 months of the sites being managed rather...
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