LCP snaps up Southport retail park

24th May 2023 | Jack Oliver

London & Cambridge Properties (LCP) has acquired the Central 12 retail park on the outskirts of Southport for an undisclosed fee.

Anchored by Asda, the 162,143 sq ft scheme’s 13 units are occupied by tenants including The Range, Poundland, Boots, and Next.

The retail park on Derby Road is close to Southport Railway Station is also home to a 600-space car park.

Discount retailer B&M will become the scheme’s first new tenant since LCP, which is part of M Core, acquired the site a few weeks ago. The retailer has signed a five-year lease for a 23,309 sq ft store, set to open this summer.

James Buchanan, group managing director at LCP, said: “We have invested more than £115 million in retail assets this year, demonstrating our determination and commitment to investing in the UK retail sector. Acquisitions such as this form an important part of our programme of investment as we seek to consolidate our portfolio and add value to it.”

Barry Flint, LCP director and site asset manager, added: “We’re speaking to new national retailers and local management about how we can continue to improve the shopping experience for visitors, and are committed to working with the local community to ensure that the park is a positive asset for the area. We hope to announce new retailers very soon.”

M Core said it has invested over £160m over the last 12 months in 25 retail centres, with major acquisitions including Cwmbran Centre, The Galleries in Sunderland, and Three Spires in Lichfield.

The property firm said it has £300m to invest and is actively seeking more sites for acquisition.

Harvey Spackfield and Harper Dennis Hobbs acted on behalf of LCP. The agent for the deal was JLL.


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