Nine lettings, four sectors, one year: M Core’s intensive asset management transforms Kennedy Way, Immingham

Twelve months of intensive, hands on asset management has turned Kennedy Way, Immingham, from an underused scheme into a diversified, multi-service destination, with nine lettings totalling almost 30,000 sq ft signed across fitness, food and beverage, convenience retail and community services.

When M Core acquired Kennedy Way in June 2025, it bought a scheme with potential that had been overlooked. A year on, that potential is evident. M Core has signed nine lettings across four occupier categories, rebuilding Kennedy Way as a place people use daily rather than a scheme in decline. 

The result is a deliberate one. M Core does not buy and hold passively. It buys schemes others have left behind and works them hard: tenanting, remixing and reestablishing footfall until the asset earns its place in the local economy again. Kennedy Way is that approach in a single leasing cycle.

Demand here is not concentrated in one use or one covenant. It runs from destination wellness to daily-need convenience, anchored by long leases:

• Snap Fitness: 8,500 sq ft (Unit 2013a), 20-year lease. A full-service 24/7 club with a dedicated Reformer Pilates studio, infrared sauna and recovery suite, operated by a new franchisee.
• Heron Foods: 6,250 sq ft (Unit 1 of 33), 10-year lease.
• Starbucks: 1,705 sq ft (Unit 3 of 33), 10-year lease.
• Domino's: 1,535 sq ft (Unit 25), 10-year lease.

Around these anchors, a second tier of lettings widens the footfall base across the trading day: discount retailer Valuebee (2,034 sq ft, completing alongside Starbucks), and cafés Kiddies Cafe (1,500 sq ft, trading since November 2025) and Snack and Shack (2,000 sq ft, opening shortly). Community occupiers, including Jerry Green Dog Rescue (2,000 sq ft, fitting out) and a women's support service (4,200 sq ft, trading since March 2026), add further breadth of use. 

Tom Percy, Asset Manager at LCP UK, part of M Core, said:
"We acquired Kennedy Way in June 2025 and within the first year secured nine lettings across fitness, food and beverage, convenience retail and community services, totalling almost 30,000 sq ft. The 20-year commitment from Snap Fitness and the 10-year terms from Starbucks and Heron Foods show the demand here is real, diversified and durable. This is hands-on asset management, turning an underused scheme into a multi-service destination, and the leasing programme is ongoing."

We’re excited to be able to bring a Snap Fitness gym to Immingham,” said a Snap Fitness spokesperson “It’s really rewarding for us to be able to open here and provide a community-focussed gym for the local area to enjoy.

“The gym will be owned by a new franchisee who is committed to embedding the club at the heart of the local community. People can expect a gym where people of all abilities can feel comfortable and welcome in and we’re looking forward to welcoming everyone to see for themselves when we open."

Asset management has been led by Tom Percy at LCP UK, part of M Core.

All transactions were completed in-house by Kim Chalkin, solicitor at LCP UK, part of M Core.