Private commercial property collective M Core has bought up a multi-retail centre portfolio for £35m.
The Harrier portfolio comprises eight retail parks and convenience stores in England and Scotland, with 18 occupiers spread across more than 334,000ft2.
The portfolio, located in the Midlands, South, North West, North East and in Dumfries, South West Scotland, will be managed by national commercial property and investment company LCP, which is part of M Core.
LCP group managing director James Buchanan, said: “We could not let up this exceptional opportunity to acquire such a high-quality, multi-site portfolio, spanning much of the UK […] We are excited by the potential to deliver enhanced returns through management and improvement, building on the portfolio’s existing mix of well-performing national occupiers and retailers.
“This year alone M Core has invested more than £125m in a wide range of retail across the country, and we remain highly active in acquisitions. Our experienced asset management teams are proactively seeking out opportunities across the country, with funds of £300m available to invest in assets ranging from £1m to £100m.”
The dominant centre in this portfolio acquisition is Antelope Retail Park, a multi-let retail park near Southampton that extends to nearly 138,000ft2. It is anchored by strong-performing, national brands including The Range, Lidl, Ninja Warrior, KFC, The Gym, Greggs and Costa Coffee.