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LCP has announced that it has signed a new deal to acquire a shopping parade in Trafford for almost £9.5m on behalf of Sheet Anchor Investments, one of the group’s managed companies.
The centre has 21 retail units and is anchored including Sainsbury’s, Aldi, Costa Coffee, Iceland and Boots.
In the past six months, the retail and investment company has acquired a number of convenience-led parades, including Bowen Square, Daventry; Hillsborough Barracks, Sheffield; Bramley Shopping Centre, near Leeds; Swanley Square in Sevenoaks, Kent; and Mavery House, Diss.
James Buchanan, managing director at LCP, said: “We have long recognised the huge potential in the local convenience-led retail sector and have acquired £80m worth of assets in the past six months.
“We are actively seeking similar properties and are keen to speak to organisations that are considering disposing of their shopping parades. We have £300 million available for assets ranging from £500,000 to £30m.”
Barry Flint, associate director at LCP, added: “The Square represents a fantastic investment and we’re looking forward to managing it on behalf of the landlord, ensuring not just a strong return on investment but also making sure we deliver the retail experience that shoppers want from their neighbourhood centre.”
