4/18/2023

LCP, part of M Core, the national property management and investment collective, has acquired a row of shops in Bromley High Street as it continues its investment drive in the retail sector.

It has acquired 110-118a, a 12,231 sq ft parade of six shops that accommodates Greggs, Cancer Research, Schuropody, Kokura, Beautica, and a mobile phone shop, for an undisclosed sum.

Located in the heart of the town's main shopping area, the parade is close to both entrances of The Glades Shopping Centre and sits opposite the M&S high street entrance.

George Kearney, asset manager at LCP, said: "We've started 2023 as we mean to go on: proactively investing in strong retail portfolios across the country. When the opportunity arose to acquire this parade in Bromley, we knew it would be a good investment."

Over the past 18 months, M Core has acquired more than 25 convenience parades and shopping centres within its UK portfolio with major acquisitions including Chelmsley Wood Shopping Centre, in Solihull, and Gateway Retail Park, Harwich.

LCP's agent for the acquisition was Lewis Ellis and the solicitor was Osborne Clarke. The agent for the vendor was Zammero Real Estate.

M Core has 397 retail assets across the UK worth £2.285 billion, 8030 units over 24.6 million sq ft. It has £300 million available to invest for assets ranging from £500,000 to £30 million and portfolios up to £150 million. It is actively seeking sites for acquisition.