The commercial property and investment company London Cambridge Properties (LCP) has today announced the acquisition of a retail centre.
LCP purchased the Bramley Shopping Centre in Leeds for £10 million on behalf of Sheet Anchor Investments, one of the LCP Group of managed companies.
James Buchanan, LCP Managing Director, said: “The first quarter of 2021 has been particularly busy for us with acquisitions in the local convenience-led retail sector, which is where we have focused our efforts over the past few years.
“With £300 million available to invest for assets ranging from £500,000 to £30 million, we are seeking similar opportunities that we can add value to.”
Located roughly four miles north west of Leeds city centre, the Bramley Shopping Centre is the latest in a string of LCP acquisitions in the past six months, representing an £80 million investment in convenience-led retail parades.
Rakesh Joshi, Associate Director (Convenience Parades) at LCP, added: “We are pleased to have invested in this popular Leeds development, which is a popular and busy suburban centre that has huge potential. We’re looking forward to working with existing tenants and attracting new names to the site.”