A shopping parade in Greater Manchester has been acquired in a deal worth almost £9.5m.
Commercial retail and investment company LCP has signed a deal for The Square in Trafford on behalf of Sheet Anchor Investments.
The centre has 21 retail units and is anchored by Sainsbury’s and also includes Aldi, Costa Coffee, Iceland and Boots.
James Buchanan, managing director at LCP, said: “We have long recognised the huge potential in the local convenience-led retail sector and have acquired £80m worth of assets in the past six months.
“We are actively seeking similar properties and are keen to speak to organisations that are considering disposing of their shopping parades. We have £300m available for assets ranging from £500,000 to £30m.”
In the past six months, LCP has acquired a number of convenience-led parades, including Bowen Square in Daventry, Hillsborough Barracks in Sheffield and Bramley Shopping Centre near Leeds.
Barry Flint, associate director at LCP, added: “The Square represents a fantastic investment and we’re looking forward to managing it on behalf of the landlord, ensuring not just a strong return on investment but also making sure we deliver the retail experience that shoppers want from their neighbourhood centre.”
