Weavers Wharf is a 20,440 sq m retail park, just a few minutes’ walk from Kidderminster town center, with anchor tenants Marks & Spencer, Next and TK Maxx, Café Nero, Boots, Sport Direct, McDonalds and TruGym. Premier Inn is also on the site.
LCP acquired the center for an undisclosed sum from Nuveen Estate as part of its proactive acquisition drive in shopping parades, centers, and retail parks across the country.
“This significant investment demonstrates our appetite for acquisition and our focus on intensive asset management, where we want to realize opportunities for adding value”, comments James Buchanan, LCP group managing director.
“As well as achieving a good return on our investment, we’re committed to improving our retail estate, providing better value for money for tenants and, where there are voids, attracting good-quality brands, ensuring a better shopping experience, and, of course, helping to bring jobs”, adds Buchanan. “It is thanks to the hard work by our team, who identify the sites for us to acquire, then use their considerable expertise and extensive contacts to attract tenants, that our strategy is working.”
Simon Eatough, director of landlord and tenant at LCP, will lead the asset management team.