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Weavers Wharf acquired by LCP

Weavers Wharf, the edge-of-town retail park in Kidderminster, has been acquired by commercial property and investment company LCP for an undisclosed sum. Spanning 220,000 square feet,… View Article

RETAIL PROPERTY NEWS

Weavers Wharf acquired by LCP

Weavers Wharf, the edge-of-town retail park in Kidderminster, has been acquired by commercial property and investment company LCP for an undisclosed sum.

Spanning 220,000 square feet, the scheme’s anchor tenants include Marks & Spencer, Next, TK Maxx, Café Nero, Boots, Sport Direct, McDonalds and TruGym. There is also a Premier Inn on the site.

LCP has purchased the scheme from Nuveen Estate.

James Buchanan, LCP group managing director, said: “This significant investment demonstrates our appetite for acquisition and our focus on intensive asset management, where we want to realise opportunities for adding value.

“As well as achieving a good return on our investment, we’re committed to improving our retail estate, providing better value for money for tenants and, where there are voids, attracting good-quality brands, ensuring a better shopping experience, and, of course, helping to bring jobs.”

Simon Eatough, director of landlord and tenant at LCP, will lead the asset management team.

LCP’s owner M Core is currently investing in various commercial sectors throughout the UK and Europe. Major UK acquisitions have included Cwmbran Centre in Cwmbran, The Galleries, Washington in Sunderland and Three Spires in Lichfield. 

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