M Core continues acquisition drive with Merthyr Tydfil purchase

Commercial property and investment company Sheet Anchor, part of M Core, has acquired a town centre parade in Merthyr Tydfil, South Wales.

The purchase of Beacons Place from an undisclosed vendor represents the latest transaction in M Core’s investment programme, in which it has spent over £150m on retail sites this year.

The 28,858 sq ft scheme is currently fully let and comprises 13 units, with tenants such as Select, Greggs, and Clarks, and acts as the main link between the high street, Tesco Extra, and the railway station.

James Buchanan, group managing director of LCP, also part of M Core and which has been appointed to manage the centre, said: “Beacons Place is located in the heart of Merthyr Tydfil town centre and it already enjoys high footfall and a strong tenant line up, more than half of whom are national brands. We’re looking forward to meeting the tenants and implementing our hands-on asset management strategy to ensure the centre continues to thrive.”

Over the last 12 months, M Core has invested a total of over £165m into 25 retail centres. Major acquisitions it has made include Ocean Plaza, Southport; Central 12, Southport; and Weavers Walk, Kidderminster. 

M Core said it has £300m available to invest in sites valued between £500,000 and £30m and portfolios worth up to £150m, and is actively seeking sites to purchase.

Powell Lloyd acted for Sheet Anchor, whilst EJ Hales acted for the vendor, which was undisclosed.