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East Anglia Future 50

Giant Lok'nStore centre at Futura Park completed

PUBLISHED: 07:00 11 June 2019 | UPDATED: 09:39 11 June 2019

The new Lok'nStore self-storage facility in Ipswich. Photo MCS Group.

The new Lok'nStore self-storage facility in Ipswich. Photo MCS Group.

Archant

Construction of a huge new £1.8m Lok'nStore site at Ipswich's Futura Park has come to an end.

The eye-catching self-storage base is bright orange and positioned next to the existing John Lewis and Waitrose store.

MCS Group, the main contractors of the build, announced last week the development had reached "practical completion"- with the branch scheduled to open in the coming months.

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Alan Shadbolt, commercial director at MCS Group, said: "We have got a long-standing relationship with Lok'nStore going back many years and it's great to see them opening another facility as this business continues to grow.

"We have reached practical completion on the Ipswich development at Futura Park, bringing a 29-week project with a value of £1.8m to a very successful conclusion."

The new 15,306 sq ft site is the fifth Lok'nStore branch built by the construction company.

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Lok'nStore opened its first centre in 1995 and was one of the first self-storage companies in the UK, as the concept of self-storage lagged behind the development seen in the US.

It currently operates 33 stores across the country, serving around 7,000 customers.

Chief Executive Andrew Jacobs added: "This excellent new location adds to the recent rapid growth in our pipeline of stores.

"Our objective remains to grow by both acquiring more sites to build new landmark stores for Lok'nStore's own balance sheet and to increase the number of stores we manage under the Lok'nStore brand for third parties."

It is hoped the site's distinctive Lok'nStore branded livery and prominent Lok'nStore signage will become a recognisable landmark in the area.

Futura Park could soon see further expansion after the UK's largest industrial developer, Chancerygate, completed the acquisition of the site to speculatively develop 19 grade-A units covering 143,000sq ft as part of a £4.7m investment in the region.

A full planning application is under consideration but the 5.7 acre site, near Jaguar Land Rover, could feature freehold and leasehold units ranging in size from 2,000sq ft to 10,350sq ft.

The development would also include environmental and sustainability details such as electric vehicle charging points and high-performance building materials.

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