M Core Acquires Local Convenience Centre, Kennedy Way in Immingham, North Lincolnshire

M Core, one of Europe’s leading property collectives, is pleased to announce the successful acquisition of Kennedy Way in Immingham, a 46,001 sq ft well-established community retail centre comprising 20 retail units. This strategic purchase further strengthens M Core’s commitment to revitalising essential local shopping destinations across the UK.

The retail parade, anchored by Tesco, B&M and Home Bargains, is centrally located within Immingham and benefits from a substantial dedicated car park. National and independent retailers alike are represented, reflecting its role as a key hub for the town's growing population.

At the point of acquisition, five units were vacant, with offers received on three units and discussions with a number of parties on the remaining units ongoing, with unit split options also being explored. 

Refurbishment works have already commenced across the vacant units, with works to include full shell and core refurbishments to vacant units and the installation of new modern shopfronts.  External works are to be undertaken to uplift the parade, which include the upgrading of estate-wide lighting to energy-efficient state-of-the-art LEDs, and comprehensive canopy redecoration. 

James Buchanan, Group Managing Director of LCP, part of M Core commented: “Kennedy Way represents exactly the kind of vibrant, community-focused retail centre that aligns with our investment strategy. We’re excited about the opportunity to reinvigorate this scheme and work closely with existing and future tenants to deliver long-term value for Immingham. The early stages of refurbishment are already in motion, and we are committed to ensuring the town’s central hub realises its full potential.” 

M Core is also deploying intensive asset management strategies across the scheme, with the objective of supporting and strengthening tenant mix and occupancy. Kennedy Way follows similar successful recent acquisitions of like-for-like community retail schemes, such as Greenfern Place in Mastrick, Aberdeen which was acquired in May 2025.  The asset was purchased with seven void units; five have already been let and offers have finalised on the other two.

Cllr Stewart Swinburn, Conservative Councillor for the Immingham ward, said: “Kennedy Way is a vital shopping centre for the local community, providing everyday convenience in a central location with the added benefit of great car parking and a strong mix of national brands. We’re pleased to see M Core, investing in this important local asset. The refurbishment will make a big difference to the centre and the wider area. Immingham Town Council and the three NELC Ward Councillors are working closely with the new owners, LCP, part of M Core, to bring vacant units back into use for the benefit of all. We look forward to continuing this collaboration to make Kennedy Way a thriving centre for residents and visitors alike.”