Lok’nStore Group has been given the go-ahead to build a self-storage and supermarket scheme in Maidenhead.
The development in Berkshire will include 60,000 sq ft of lettable self-storage space alongside a new Lidl supermarket. The group is aiming to open the store in the middle of 2013.
On completion of the development, Lok’nStore will manage more than 1m sq ft over 23 stores.
Lok’nStore chief executive, Andrew Jacobs, said “We are delighted to receive planning permission for this important project.
“Maidenhead is an excellent location for us, an affluent town right in the middle of our geographical coverage across south-east England, with little local competition.
“The town is also set to benefit from its position as the western terminal of Crossrail and we are excited by the store’s ultimate potential.”
“This permission validates our strategy of extracting further value from our prominently located development sites whilst minimising our net capital costs.
“This allows us to continue to expand the operating footprint of Lok’nStore without stretching our balance sheet.”
bridget.oconnell@estatesgazette.com
