Lilliputian homes are becoming the norm. The living room of a new-build today is a third smaller than one built in the 1970s as developers squeeze more properties onto dwindling plots of land. But since our love of buying stuff remains uninhibited by our lack of space, self-storage centres Lok’nStore, Safestore and Big Yellow are flourishing.
Aim-listed Lok’nStore is itself Lilliputian next to its listed rivals, with a market capitalisation of £273 million (Safestore and Big Yellow’s market values are over £2 billion). Its revenues have surged in recent years, with same-store takings up 11 per cent to £13 million in the six months to February, but its shares are off 10 per cent over the past year, and now trading at about 907p.
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