London, 2016-Aug-16 — /EPR Retail News/ — London & Cambridge Properties (LCP) has added a popular neighbourhood shopping centre in Glasgow to its retail portfolio after it was appointed to manage the development.
LCP has taken on 21 fully occupied retail units at the 65,295 sq.ft Govan Cross Shopping Centre, which was purchased for in excess of £5 million by a company LCP works closely with.
James Buchanan, investment director at LCP, said: “We are committed to growing our property portfolio and the Govan Cross acquisition provides us with yet another excellent opportunity for our proactive asset management team to use their expertise to add further value.”
LCP, a leading West Midlands-based property investment and development company, is continually seeking high yielding investment property acquisitions in the UK. The market is constantly monitored and acquisitions are undertaken where there are real opportunities to enhance returns using LCP’s intensive management approach.
LCP’s largest retail acquisition of the year was the Blossom portfolio at £23.34 million, which comprises 14 retail sites totaling approximately 216,000 sq ft.
Govan Cross Shopping Centre is a popular neighborhood shopping centre located 3 miles West of Glasgow City Centre. It is located at the heart of Govan and is adjacent to Govan Bus Station. Tenants include Home Bargains, Greggs, Peacocks, Iceland and Subway.
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Source: London & Cambridge Properties (LCP)