LCP Group acquires Gateway Retail Park
The Group, which is part of M Core, has acquired more than 20 retail acquisitions in 12 months
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The LCP Group has announced it has acquired a Gateway Retail Park in Harwich, Essex – marking more than 20 retail acquisitions in 12 months.
The group, which is part of M Core, the acquisitive commercial property collective that has invested more than £160m over 12 months in retail assets, has added Gateway to its growing portfolio after completing the deal for an undisclosed sum.
With eight units, it is anchored by a 26,000 sq ft B&M Homestore, with other tenants including: Argos, Carpetright, Card Factory, Peacocks, Domino’s, and Greggs. There is one current vacant unit of 2500 sq ft, which is being marketed, and the park is served by a 215-space car park.
Nick Bryson, of LCP, part of the LCP Group, has been appointed asset manager.
Morgan Williams acted as the vendor’s agent and LCP was represented by Lewis Ellis and Co. Morgan Williams and Prime Retail have been retained as marketing agents.
James Buchanan, group managing director of LCP, said: “We’re pleased to have acquired Gateway Retail Park in what is an exciting time for our group.
“As a company that is committed to investing in retail, from small, neighbourhood parades right up to larger, urban destination centres, we have a dedicated team of expert asset managers who have a deep understanding of the market and impressive contacts of retailers who want to find new premises.
He added: “We’re now looking at how we can add value to this already well used retail centre and believe there is real potential for growth there.”
