M Core acquires purpose build retail asset, Manchester, UK

It acquired Lime Square Retail Parade in Openshaw for £9.8 million from Dransefield Properties Ltd on behalf of L&C Investments, part of the LCP group of managed companies.

The fully let 21-retail unit estate has a vibrant mix of retail, food and leisure tenants over 76,000 sq ft and is anchored by an 80,000 sq ft Morrisons superstore. Other tenants include Greggs, The Gym, Poundland and B&M.

There is also a car park for 670 vehicles and includes one EV charger for electric vehicles.

With the centre being only 11 years old, it is a modern retail environment that already attracted significant footfall from local shoppers.

In the last quarter, LCP has acquired £58 million of multiple assets throughout the UK and it has £300 million available to invest for assets ranging from £500,000 to £30 million. It is actively seeking similar opportunities it can add value to.

Firm Myerson Solicitors LLP advised Dransfield Properties on the legal transaction, while Osbourne Clarke LLP acted for LCP.