M Core, one of the UK’s largest, privately held commercial property collectives, has acquired Westhill District Centre near Aberdeen. The Centre has 28 retail units and six office suites spanning 61,332sq. ft.
Among its notable occupants are Home Bargains and a flagship M&S Simply Food store. This transaction marks M Core’s second significant acquisition in Scotland this year, following its earlier acquisition of Princes Square in Glasgow. LCP, part of M Core, will oversee the management of the district centre.
James Buchanan, managing director of LCP, part of M Core, underscored the strategic significance of Westhill’s proximity to Aberdeen, Scotland’s third-largest city, as a catalyst for heightened foot traffic. Against the backdrop of a buoyant Scottish retail sector, which saw a 4.6% year-on-year sales increase as of July 2023, M Core’s acquisitions assume heightened relevance.
The acquisition of Westhill district centre was by Sheet Anchor, part of M Core, with representation from Kelsey Gibson of MacRoberts LLP. Simon Lewis of Lewis Ellis served as M Core’s agent. Savills and DLA advised the vendor.
M Core has invested more than £275m in the past 12 months across UK commercial real estate, with notable acquisitions such as The Centre, Livingston, Cwmbran Centre, The Galleries in Washington, Sunderland and Three Spires in Lichfield. Armed with £500m for investments ranging from £2m to £250m, M Core actively seeks new sites for acquisition.
