Commercial Property News
Image default
North East England Property News Retail Property News UK Property News

LCP Acquires County Durham Retail Park

Commercial People agency London Cambridge Properties (LCP) has added a County Durham retail park to its expanding property portfolio.
The national commercial property and investment company announced that it had bought Russell Street Retail Park in County Durham in a deal worth £1.8 million.

Located close to the Darlington town centre, the park comprises three units with a total of 24,840 sq ft. Occupiers include Halfords and the British Heart Foundation, with the final unit currently vacant. Besides the retail units, Commercial People understands that there is also a 135-space car park.

The acquisition is the latest in a line of retail purchases in recent months. In the past quarter alone, it has acquired £58 million of multiple assets throughout the UK, including the Myrtlefield Shopping Centre in Aviemore, which was its largest retail acquisition in Scotland yet.

Rakesh Joshi, LCP’s Associate Director, said: “As we seek to invest in convenience parades across the country, we are gaining a reputation as a major player in this thriving sector. We are pleased to add Russell Street Retail Park to our growing portfolio and will continue to seek similar opportunities.”

LCP has a reported £300 million available to invest and are targeting assets ranging from £500,000 to £30 million.

Related posts

The Property Industry Appointment Roundup

Dominic Gabriel

Evolve Estates Acquires Middlesbrough Retail Asset

Dominic Gabriel

KISS Radio Relocates to Landmark West Midlands Office

Dominic Gabriel