Unusually, self-storage sites operator Lok’nStore (LON: LOK) commissioned a valuation at the half year, prompted by the sale of four sites earlier this year. The uplift in valuation of those sites was so great it was felt that a new portfolio valuation was required.
The disposal happened at the end of January, and it was achieved at 17% above book value. Lok’nStore retains the management of these sites. The disposals will reduce short-term revenues and profit.
The revaluation has helped the underlying NAV of 843p a share – a 48% increase on 12 months before. finnCap believes that the underlyin...
