Wiltshire shopping centre snapped-up by national investment company
A national investment company has acquired a Wiltshire shopping centre for an undisclosed amount.
LCP Group has acquired the Shires shopping centre in Trowbridge, a 118,000 sqft centre with 52 retail units.
Current tenants include Iceland, JD Sports, Sports Direct, Peacocks, Poundland and Superdrug. The centre is anchored by an Asda superstore. There are also more than 1,000 car parking spaces.
The Bristol office of LCP, which is part of M Core, one of the largest, privately held commercial property portfolios in the UK, has been appointed to manage the centre.
Asset manager George Watson said: “In the past few months, our managed portfolio has grown significantly with the addition of 100,000 sq ft of property, including large regional centres, local convenience parades and offices.
“We are known for our intensive asset management and work hard to add value and invest in the local communities where we operate.
“Thanks to our extensive contacts in the retail sector we’ll be contacting those we believe would benefit from having a Trowbridge presence and look forward to announcing new tenants in the coming weeks.”
The Shires acquisition marks LCP Group’s fourth major retail deal of the year.
It has already announced its acquisition of Market Quay Shopping Centre, in Fareham, Hampshire, a 168,907 sq ft development comprising 17 commercial units, and Rainham Shopping Centre, in Gillingham, Kent. This 85,000 sq ft retail and office precinct has 25 shops, including Greggs, Costa, Card Factory and Boots, and it is anchored by Tesco and Wilko.
It also added Gateway Retail Park in Harwich, Essex, to its retail acquisitions. The park has eight units and is anchored by a 26,000 sq ft B&M Homestore.
For The Shires transaction, Jackson Cris acted as agent for the vendor, while the vendor’s solicitor was CMS. For LCP, solicitor was Osbourne Clarke, while Savills was agent.
