Russel Street retail park. Credit: LCP

LCP expands retail portfolio with Russel Street Retail Park acquisition in Darlington

LCP has added a Darlington (UK) retail park to its portfolio, situated on St Cuthberts Way ring road, which is close to the town center, for £1.8 million.

The park comprises three units with a total of 2,308 sq m, with occupiers Halfords and the British Heart Foundation, with the final unit void. There is also a 135-space car park.

The acquisition is the latest in a line of retail purchases in recent months. In the past quarter alone, the company has acquired £58 million of multiple assets throughout the UK, boosting its portfolio in the key area of convenience parades and local centers. These include Lime Square, Openshaw; Eden Square, Manchester; and Aviemore Shopping Centre and Myrtlefield Shopping Centre in Aviemore, Scotland, which was its largest retail acquisition in Scotland yet.

Rakesh Joshi, LCP’s associate director–convenience parades, said: “As we seek to invest in convenience parades across the country, we are gaining a reputation as a major player in this thriving sector. We are pleased to add Russell Street Retail Park to our growing portfolio and will continue to seek similar opportunities.”

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