Property company earmarks £250m to continue expanding portfolio
Property investor LCP has earmarked £250m to continue the expansion of its portfolio.
The Black Country company is one of the UK’s leading property investment and management companies. The investment is looking to build on a record-breaking 2017.
Based in Pensnett, the company saw its turnover increase by 16% last year, helping it to break through the £100m barrier for the first time.
The past 12 months has seen the company invest more than £112m in its retail and industrial portfolios, adding more than 100 new sites, 1,200 new tenants and over 1.5 million sq ft.
Nick Burgess, LCP managing director, said 2018 would see the company targeting further local convenience parade acquisitions, after adding 46 sites last year and growing its Scotland portfolio by more than 346,000 sq ft after successfully opening an office in Glasgow last spring.
“We’ve had an exceptional 2017, which saw our turnover reach record levels, and now we are focusing on building on this success this year and beyond,” he said.
“The past few years have demonstrated that we are a tour de force when it comes to acquisitions and investments in both the retail and industrial sectors and this level of activity will continue, thanks to our teams of asset managers.”
He said the company was targeting sites in key, strategic areas that could add value to the expanding portfolio and offer good yield potential.
“To meet these ambitious objectives, we have earmarked up to £250m for investments in 2018. If we can source the right sites in the right locations, we are happy to talk to agents and landowners,” he added.
LCP owns and manages 19,242,737 sq ft of commercial property across the UK, comprising 471 sites and 4,704 tenants.
