Property company makes significant investment in Birmingham’s Southside
Black Country-based property investment company LCP has expanded its portfolio with a new acquisition in Birmingham city centre.
The Kingswinford-based group has acquired a parade of eight commercial units beneath the Latitude apartment building in Bromsgrove Street, Southside.
The terms of the deal have not been disclosed.
LCP already has considerable interests in the area. It owns and manages restaurant and entertainment venue, The Arcadian, and B5 Southside, a retail parade on Hurst Street.
Tenants leasing the Latitude units, which extend to 13,647 sq ft, include Ian Henery Solicitors, Min Min Noodles, Pure Island Dry Cleaners, and Home Town China.
The acquisition is part of LCP’s ongoing growth strategy, which last year saw it invest £98m in its commercial property portfolio. It is looking to invest a further £200m this year in both retail and industrial properties.
James Buchanan, LCP investment director, said: “Latitude is in an excellent location, just five minutes from Bullring, and this acquisition also enables us to build on our portfolio in Southside, which is a vibrant area of the city that is earmarked for some exciting redevelopments over the next few years.”