U.K. self-storage company Lok’nStore Group PLC has sold its facility in Swindon, England, to an unidentified investment fund for £3.5 million. The operator will continue to manage the asset as a branded Lok’nStore location on behalf of the investor, according to a press release. It intends to use proceeds from the sale to fund development projects, officials said.

The Swindon property originally operated as one freehold and one leasehold location, but a recent £500,000 expansion increased capacity at the freehold asset, and the two locations were consolidated into one, the release stated.

Source: UK Self Storage Company LoknStore Sells Facility in Swindon England