LCP continues series of acquisitions

London & Cambridge Properties (LCP) has continued a string of acquisitions with the purchase of Gateway Retail Park in Harwich.

The M Core owned group purchased the Essex-based shopping centre for an undisclosed sum. Completely Retail News believe the deal was made as early as mid-December.

The 55,968 sq ft scheme is home to a 26,000 sq ft B&M, a 9,000 sq ft Argos, a 7,000 sq ft Carpetright, as well as a Gregg’s, Domino’s, Peacocks, and Card Factory.

Other purchases made in the last year include Cwmbran Centre, Cwmbran; The Galleries, Sunderland; Aviemore Retail Park, Aviemore; and Three Spires, Lichfield.

James Buchanan, group managing director of LCP, said: “As a company that is committed to investing in retail, from small, neighbourhood parades right up to larger, urban destination centres, we have a dedicated team of expert asset managers who have a deep understanding of the market and impressive contacts of retailers who want to find new premises.

“We’re now looking at how we can add value to this already well used retail centre and believe there is real potential for growth there.”