Property group LCP snaps up industrial units in Central Belt

Commercial property and investment company LCP has expanded its Scottish portfolio with the purchase of a ­terrace of seven industrial units at a Cumbernauld industrial estate.

Roddy Proudfoot, LCP asset manager, said the deal highlighted the group's continued appetite for investment. Picture: Jamie Williamson

LCP acquired the units, which total almost 41,000 square feet, at Cumbernauld Business Park on behalf of its L & C Investments arm for an undisclosed sum.

The units range from approximately 6,500 sq ft to close to 21,000 sq ft and are let to four businesses: R3 Polygon UK, Red-d-Arc, Fresco Dog Foods and Edmundson Electrical.

Each of the units has been refurbished and benefits from overclad roofs, external cladding, and dedicated car parking and yard areas. ­Cumbernauld Business Park is located very close to the M80, providing easy access to Glasgow and other Central Belt locations.

LCP asset manager Roddy Proudfoot said: “This acquisition complements our existing industrial portfolio and demonstrates our continued appetite to invest in both industrial and retail property in Scotland. As occupiers quickly discover, we provide ­hands-on management to improve assets and progress future lease regear and ­reletting opportunities as they arise.”

The West Midlands-based firm, which has an office in Glasgow, manages a portfolio of more than 19 million sq ft of commercial property across the UK.