LCP Group, the national commercial property and investment company, has acquired The Shires in Trowbridge. A 118,000sq ft centre with 52 retail units, tenants include Iceland, JD Sports, Sports Direct, Peacocks, Poundland and Superdrug and it is anchored by an Asda superstore. There are also more than 1,000 car parking spaces.
The Bristol office of LCP, which is part of M Core, one of the largest, privately held commercial property portfolios in the UK, has been appointed to manage the centre, which was acquired for an undisclosed sum.
Asset manager George Watson said: “In the past few months, our managed portfolio has grown significantly with the addition of 100,000sq ft of property, including large regional centres, local convenience parades and offices.
“We are known for our intensive asset management and work hard to add value and invest in the local communities where we operate. Thanks to our extensive contacts in the retail sector we’ll be contacting those we believe would benefit from having a Trowbridge presence and look forward to announcing new tenants in the coming weeks.”
The Shires acquisition marks LCP Group’s fourth major retail deal of 2023.
It has already announced its acquisition of Market Quay Shopping Centre, in Fareham, Hampshire, a 168,907sq ft development comprising 17 commercial units, and Rainham Shopping Centre, in Gillingham, Kent. This 85,000sq ft retail and office precinct has 25 shops, including Greggs, Costa, Card Factory and Boots, and it is anchored by Tesco and Wilko.
It also added Gateway Retail Park in Harwich, Essex, to its retail acquisitions. The park has eight units and is anchored by a 26,000sq ft B&M Homestore.
For The Shires transaction, Jackson Cris acted as agent for the vendor, while the vendor’s solicitor was CMS. For LCP, solicitor was Osbourne Clarke, while Savills was agent.
