M Core acquires 19 new assets in 2024
Commercial property and investment collective M Core has acquired 19 assets in 2024, completing a total of £144m in investments.
The group’s managed portfolio now includes 539 properties and 7,740 units, with a total value of £2.6bn.
LCP, part of M Core, has maintained a 95% occupancy rate across its portfolio, which comprises 6,484 units housed in 482 properties with a total value of £2.3bn.
So far in 2024, LCP and its managed funds have completed 12 acquisitions totalling £97m in investments. The group’s managed estate totals 482 properties comprising 790,000 sq ft of space, a year-on-year increase of 3%.
Highlights include the acquisitions of Bramhall Village Square in Greater Manchester, Princes Square in Glasgow, and Fforest Fach Retail Park in Swansea.
Meanwhile, M Core’s other business, Evolve Estates, has acquired seven assets in 2024, totalling over 1 million sq ft of space and a gross investment of £47m.
Evolve Estates now has a 92% occupancy rate and a portfolio value of £374m. In the year-to-date, its acquisitions have included The Bridges Shopping Centre in Sunderland, Billingham Town Centre, and Carters Square in Uttoxeter, expanding its portfolio square footage by 35%.
Sebastian Macdonald-Hall, chief investment officer (Europe) of M Core, said: “M Core’s impressive UK performance and strategic acquisitions to date reinforce our commitment to growth and value creation. With a robust portfolio and a strong pan-European presence, M Core is well-positioned for continued success throughout 2024 in the commercial property market.”