11/25/2022

LCP, has been ranked the top direct owner of shopping centres in the country for the second consecutive year.

The latest Trevor Woods Going Shopping 2023, the definitive guide to shopping centres, showed that Black Country headquartered LCP retained the top spot for retail centre ownership, with the report saying it was "still considered the leading direct owner of shopping centres".

The newly released report also revealed that LCP had risen three places to number two for top investors and investment managers of shopping centres in the country. The report said the rise in rank follows its acquisition of Woolshops in Halifax town centre, and 5 Rise, an open-air scheme in Bingley.

James Buchanan, Group Managing Director of The LCP Group, said ten years ago, the group did not even feature in the top 20 of the Going Shopping report for prominent investors. He said the latest report demonstrates its strong commitment to investing in retail centres.

In the past 12 months alone, the LCP Group has acquired 25 centres, investing more than £140 million. Major acquisitions this year include Cwmbran Centre, Cwmbran; The Galleries, Washington, Sunderland; Aviemore Retail Park, Aviemore; and Three Spires in Lichfield.

In total, LCP Group, which is part of M Core, manages 387 retail assets in the UK worth more than £1.2 billion. These comprise more than 6,500 retail units over 13 million sq ft. The Group also has more than 5430 tenants, from small, local independent retailers to large national chains.

"This report is confirmation, if it were needed, that LCP Group is serious about investing in retail centres, from small neighbourhood convenience parades to larger town centre schemes," said James.

"We have never wavered in our focus on the retail sector because we recognise that it continues to provide significant opportunities for investment. We are recognised as an intensive asset manager of our assets. This means we are single-minded when it comes to adding value, both for our tenants and for the communities in which we serve.

"This approach has delivered positive results both for us as a business and for our tenants and it is a recipe for success."

Among its most recent investment programmes, LCP Group completed a five-year, £5-million refurbishment at Maghull Central Square, Maghull. This included the refurbishment of the 45 first-floor flats and external upgrades, such as resurfacing of the retail centre's car parks, redecoration of all external elements of the site and the installation of four rapid electric vehicle (EV) charging points.

"Central Square may be a small neighbourhood centre of 40 units, but it is an incredibly popular parade," said James. "As an active landlord, we understand the need to invest and Central Square is testament to this. This proactive kind of asset management is being replicated across our portfolio."

LCP 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