UK self-storage operator Lok’nStore issued a pre-close trading update on 11 February which included details of the sell-off of Saracen Datastore Ltd to one of its competitors, Iron Mountain. Saracen Datastore are specialists in document storage and archive back-ups.

Lok’nStore’s Aldershot site

The sale raised Lok’nStore £7.64m which it said it intended to use to fund ongoing investment of new facilities and its overall borrowing position.

Following recent purchases of sites in Stevenage and Wolverhampton and an exisiting unit in Hedge End near Southampton, the company boasts 41 locations throughout the UK, of which 21 are freehold, 8 are leasehold and 12 are managed.