Fri, 19 Nov 2021 | COMMERCIAL PROPERTY
Investment and property management firm London and Cambridge Properties Ltd. (LCP) has continued to expand its retail portfolio with the £1.8 million acquisition of the Russell Street Retail Park in Darlington. LCP has been rapidly increasing its retail portfolio over recent months, acquiring £58 million in multiple assets over the past quarter alone.
LCP has been targeting acquisitions in the convenience parades and local retail centres space. The commercial property firm has a war chest of £300 million available to deploy and is targeting assets that range from £500,000 to up to £30 million.
Its recent acquisitions include Eden Square in Manchester, Lime Square in Openshaw and the Aviemore Shopping Centre and Myrtlefield Shopping Centre in Aviemore, Scotland, which represented the firm’s largest retail acquisition in Scotland so far.
Based on the St Cuthberts Way ring road and close to the Darlington town centre, Russell Street Retail Park is made up of three units totalling close to 25,000 sq ft. One of the units is currently empty, while the others are occupied by the British Heart Foundation and Halfords. The site also includes a 135-space car park.
Commenting on the company’s latest in a string of acquisitions, LCP’s Associate Director – Convenience Parades, Rakesh Joshi, said: "As we seek to invest in convenience parades across the country, we are gaining a reputation as a major player in this thriving sector. We are pleased to add Russell Street Retail Park to our growing portfolio and will continue to seek similar opportunities."
One of the best ways to find properties below market price is to look at recent administrations
A rare opportunity to acquire this four-in-one highly profitable business which consists of a butchers, a delicatessen, a breakfast/sandwich and hot food bar, a coffee lounge and off-licence selling local ciders, beers and wines.
LEASEHOLD
An excellent opportunity to purchase a thriving and profitable leasehold post office and general store in a prime location.
LEASEHOLD
This is a fantastic opportunity to takeover an extremely popular entertainment retailer, gaming store, cafe and events hub rolled into one. This is a place for the family to come and relax with a cup of tea or a bite to eat whilst the children (or ad...
LEASEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.