UK commercial property specialist LCP has unveiled plans to invest a further £200 mln (€230 mln) in 2017, following a £98 mln (€114 mln) spend on its portfolio last year.
LCP, which owns offices, retail and industrial properties, said it would focus in particular on the latter two asset classes.
'The past two years have seen LCP undertake significant investment, with a heavy focus on neighbourhood shopping parades, which are vital community assets,' commented James Buchanan, investment director at LCP.
'We are actively identifying opportunities that have potential for improvement and that offer the best value in terms of investment and yields. Once we acquire sites, we are committed to improving them and redeveloping them if necessary for the benefit of local communities. We will continue to acquire more sites in 2017 and are looking forward to delivering the same high level of asset management to our tenants,' Buchanan added.
Last year, the company invested in 41 sites across the UK, totalling 875,000 ft2 (81,000 m2). Its largest investment in 2016 was the £23.34 mln (€27 mln) Blossom portfolio, comprising 216,000 sq ft across 14 sites.
LCP currently has more than 410 sites, with over than 3,500 tenants and in excess of 15 million sq ft of property.
