Strong first half for property investor as it completes £42m acquisition spree
Property, investment and management company LCP has made £42m of acquisitions in the first half of 2017, which it says demonstrates its commitment to investing in industrial and retail sites.
The period saw the group acquire 18 sites, including Churnet Park in Leek, Staffordshire, which comprises three blocks of commercial space, with a total of 11 units across 60,742 sq ft; two retail parades in Airdire, Scotland; and the £5.7m iSpace portfolio, which comprises 85,115 sq ft space in nine industrial units across three sites in Sheffield and Hull.
James Buchanan, investment director, said: “So far this year we have added another 400,000 sq ft of industrial and retail space to our portfolio and we continue to seek commercial property that we can add value to through our active asset management approach.
“Last year, we invested £98m across 41 sites in the UK and we believe we are well on our way to achieving another solid year of acquisitions.”
LCP also opened a dedicated office in Glasgow to manage its growing portfolio in Scotland.