M Core completes acquisition of four retail assets
M Core has added four retail and leisure schemes to its UK portfolio, acquiring assets in Halifax, Exmouth, Brighton, and Liverpool.
The group has acquired Broad Street Plaza in Halifax, a town-centre leisure and retail scheme anchored by PureGym, Wetherspoon’s, Vue Cinema, and Nando’s. The scheme also benefits from a multi-storey car park with 429 spaces and occupies a prominent position adjacent to Halifax Town Hall and the main bus station. One unit is currently vacant, with active leasing discussions under way.
M Core has also added Chapel Street Retail Parade in Exmouth to its portfolio, which comprises seven ground-floor retail units totalling approximately 21,700 sq ft, located within Exmouth’s primary shopping area and directly adjacent to the town’s main shopper car park. Occupiers include Caffè Nero, Greggs, Mountain Warehouse, The Works, and Superdrug. One unit is currently vacant.
The group has also acquired Abacus House, which forms part of a mixed-use development on Brighton’s London Road. The asset comprises ground floor retail units, which sit beneath student residential accommodation in an established trading location with strong public transport links. Current occupiers include The Gym Group, Poundstretcher, British Heart Foundation and Nisbets.
Finally, M Core has acquired Bleasdale Shopping Centre in Aintree, Liverpool, a fully-let neighbourhood retail parade comprising nine retail units, an office, and four self-contained residential flats above, totalling approximately 17,700 sq ft. The scheme occupies a corner site at Altway and Ormskirk Road, with Old Roan railway station directly opposite and Aintree Shopping Park nearby. Occupiers include William Hill, Maxwell Hodge Solicitors and Waterfields, along with local operators.
The in-house team at LCP UK, part of M Core, will lead asset management for all four properties.
James Buchanan, group managing director, LCP UK, part of M Core, said: “These acquisitions extend our UK retail presence into locations with strong occupier bases and clear asset-management opportunities. Our in-house team will focus on occupier retention, void reduction and long-term decisions that protect income and support the communities these assets serve.”
Osborne Clarke acted on behalf of M Core across all four transactions. Lewis Ellis acted for the vendors on the Halifax and Brighton deal, while CBRE and Lambert Smith Hampton acted on behalf of the vendors in the Exmouth and Liverpool transactions, respectively.