LCP invests £42m in half year
Property, investment and management company London and Cambridge Properties made £42 million worth of acquisitions in the first half of its year
James Buchanan, investment director for Kingswinford-based LCP, said the increase in its property portfolio across the UK demonstrated LCP’s commitment to investing in both industrial and retail sites.
“So far this year we have added another 400,000 sq ft of industrial and retail space to our portfolio and we continue to seek commercial property that we can add value to through our active asset management approach,” he said.
“Last year, we invested £98 million across 41 sites in the UK and we believe we are well on our way to achieving another solid year of acquisitions.”
The first half of 2017 saw the group acquire 18 sites, including Churnet Park, in Leek, Staffordshire, which comprises three blocks of commercial space, with a total of 11 units across 60,742 sq ft; two retail parades in Airdire, Scotland; and the £5.7 million iSpace portfolio, which comprises 85,115 sq ft space in nine industrial units across three sites in Sheffield and Hull.
It has also opened its first dedicated office in Glasgow to manage its growing portfolio in Scotland.
LCP manages a portfolio of more than 17 million sq ftof commercial property across the UK and has its flagship industrial site at The Pensnett Estate, Kingswinford, which at 185 acres is one of the largest secure industrial estates in Europe and home to almost 200 companies.
Its retail portfolio is made up of more than 6.4 million sq ft and 310 sites and has a strong focus on the local and convenience shopping sector. LCP owns and manages a number of shopping centres including the Wulfrun Centre, Wolverhampton.
