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
This award-winning retailer offers a unique blend of premium country-inspired products and exceptional customer service, making it an attractive opportunity for expansion within both national and international markets. With its robust supply chain ex...
This is a rare chance to acquire a prestigious freehold property and a flourishing windows, doors, and conservatory retail business renowned for quality craftsmanship and bespoke services across Cheshire, Shropshire, Mid and North Wales.
FREEHOLD
A well-established family business, originally founded in the 1930s and expanded since 1996, is now available for acquisition.
LEASEHOLD
04
|
Jul
|
East Midlands furniture manufacturer ceases trading | ADMINISTRATION
Andrew Paul Furniture Limited, a major furniture manufacture...
04
|
Jul
|
Yorkshire law company Ison Harrison merges with Skipton firm | MERGER
Ison Harrison, an employee owned law firm based in Yorkshire...
04
|
Jul
|
£37m-turnover pet food firm falls into administration | ADMINISTRATION
Kennelpak Limited, a private equity-backed pet products comp...
10
|
Nov
|
Retail centre portfolio acquired in £35m deal | COMMERCIAL PROPERTY
Private commercial property collective M Core has completed ...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
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.