Lok’nStore lifted as firms look to store office furniture

Businesses have been on the hunt for storage space for office furniture, as they look to make workspaces better suited for social distancing, Lok’nStore said on Monday.

The self-storage firm, which has 28 sites, said new enquiries and move-ins were “at an all-time high” last month, as customer demand shot up as lockdown eased further.

Lok’nStore chairman Andrew Jacobs said: “Storage [demand] is driven by life events.”

He said there were some people “having to reorganise their businesses and home lives” to cope with the pandemic.

Jacobs pointed to more firms putting office furniture into storage as they try to make space in buildings to allow social distancing.

Self-storage revenue rose 6.3% in the year to July 31.

The company experienced more subdued trading during the full lockdown which started here in March. But it added that May, June and July were stronger.

Jacobs said: "Against the current unsettled economic circumstances Lok'nStore's trading remains resilient."

Shares in Lok’nStore increased 25p to 605p.