ACQUISITION ADDED TO PORTFOLIO14/06/2016
LCP have added 13 warehouse units in a prime Nottingham estate to their industrial property portfolio after being appointed to manage the development.
LCP have taken on blocks A, B and C Crossgate Drive, Queens Drive Industrial Estate – a 118,023 sq ft development of 13 fully occupied warehouse/industrial units on a 5.6 acre site, which was purchased for £4.1m.
James Buchanan, investment director, said: “The past 18 months has seen us focus heavily on growing our retail portfolio and we have acquired more than 50 local convenience parades.
“Now the market is right for us to turn our attention to acquiring further multi-let industrial properties with yields of 8.5% or more and our team of asset managers is actively seeking suitable investment buys at locations across the UK.
“We are not just committed to acquiring sites, we also put in plans to improve or redevelop them, where appropriate.”
We are continually seeking high yielding investment property acquisitions in the UK. The market is constantly monitored and acquisitions are undertaken where there are real opportunities to enhance returns using our intensive management approach.
We will consider commercial property portfolios of between £500,000 and £150 million. Agents with opportunities on or off the market should contact James Buchanan on 077760 880070 /JBuchanan@lcpproperties.co.uk.
Queens Drive Industrial Estate is located about a mile away from Nottingham city centre and occupiers include Howdens and Toolstation.