News

Goodman Derrick has advised Lok'nStore on its new shared site collaboration with Lidl

Leading London law firm Goodman Derrick has advised AIM-listed Lok'nStore on its second self storage and retail collaboration site with Lidl.

Lok'nStore bought the 2.2-acre development site in a prominent location facing the busy A10 at Cheshunt, Hertfordshire in 2018 (which Goodman Derrick also advised on). Lok'nStore have now exchanged contracts with Lidl which (subject to planning) will create a new self-storage centre and Lidl supermarket, which is intended to open in 2021, if it gains approval. It is the company’s second partnership with Lidl, after a previous collaboration in Maidenhead opened in 2013.

The Goodman Derrick team advising on this transaction was led by Tristan Wark and Simon Catt. Tristan Wark comments:

“We are delighted to have advised Lok'nStore on this significant transaction. Lok'nStore are leading the way within the self storage sector with innovative retail collaborations to deliver new sites and expand their trading space.”

Tom Lampard, Acquisition Manager for Lok’nStore comments:

“We continue to work closely with Goodman Derrick as a trusted partner providing a range of legal advice to Lok’nStore, not least of which is the excellent Real Estate team who navigated us through this complex and important agreement to a very successful conclusion.”


Useful Links

Estates Gazette

https://www.egi.co.uk/news/loknstore-secures-cheshunt-lidl-deal-as-pipeline-grows/

Property Week

https://www.propertyweek.com/news/loknstore-and-lidl-collaborate-on-new-site-as-self-storage-chain-expands/5105848.article

London Stock Exchange

https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/LOK/14375231.html

Lok'nStore Group PLC - Investor Page

https://www.loknstore.co.uk/investors/

Goodman Derrick
  • Goodman Derrick advise across the full spectrum of real estate and construction legal matters, both contentious and non-contentious
  • Goodman Derrick’s Capital Markets team has considerable experience of advising clients listed on the Main Market, AIM, NEX and the International Securities Market, providing advice in relation to markets transactions and ongoing listing requirements
  • The firm  has a reputation for meeting clients’ business objectives efficiently and effectively and was recently recognised as a Top 10 UK Firm for client service in The Legal 500’s Client Service Awards 2019
For further information

Tristan Wark, Senior Associate Real Estate at twark@gdlaw.co.uk or on +44 (0)20 7421 8532

Simon Catt, Partner Real Estate at scatt@gdlaw.co.uk or on +44 (0)20 7421 7951

James Caulfield, Head of Business Development at jcaulfield@gdlaw.co.uk or on +44 (0)20 7421 7968


MIPIM 2020

Are you attending MIPIM 2020?  If you are and would like to meet one of our Real Estate & Construction lawyers please click here.