News Shopping Property: LCP Acquires Weavers Wharf Retail Park in Kidderminster
Weavers Wharf, the Kidderminster-based edge-of-town retail park, has been acquired by LCP, a commercial property and investment company, for an undisclosed amount.
Covering an area of 220,000 square feet, the retail park is home to several anchor tenants such as Marks & Spencer, Next, TK Maxx, Café Nero, Boots, Sports Direct, McDonald's, and TruGym. Additionally, the site features a Premier Inn.
LCP has made this acquisition from Nuveen Estate.
James Buchanan, Group Managing Director at LCP, commented, "This significant investment demonstrates our appetite for acquisitions and our focus on intensive asset management to unlock value-adding opportunities. In addition to achieving a favorable return on our investment, we are committed to enhancing our retail estate, delivering better value to our tenants, attracting high-quality brands to fill vacancies, enhancing the shopping experience, and contributing to job creation."
Simon Eatough, Director of Landlord and Tenant at LCP, will lead the asset management efforts.
LCP's parent company, M Core, is actively investing in various commercial sectors across the UK and Europe, with notable acquisitions in the UK including Cwmbran Centre in Cwmbran, The Galleries in Washington, Sunderland, and Three Spires in Lichfield.