Retail park in popular Highlands holiday resort gains new owner

A fully-let retail park in one of Scotland’s most popular holiday resorts has changed hands.

LCP, the commercial property and investment company, has added Aviemore Retail Park, on Santa Claus Drive, to its growing retail portfolio in the Highlands town after acquiring it for an undisclosed amount. The 50,550-square-foot parade, which opened in 2017, is fully let with six tenants - anchored by Aldi, with Superdrug, Costa Coffee, The Snug Speyside Distillery Visitor Experience and Tiso outdoor experience store among the others.

The retail park joins Aviemore Shopping Centre and Myrtlefield Centre, which are both on Grampian Road, which the acquisitive property company bought in the summer of 2021, bringing its total retail portfolio in the town to some 85,550 sq ft. Phillip Hunt at Tudor Real Estate acted as agent for LCP, and the solicitor was Kelsey Gibson at MacRoberts. CMS Solicitors acted for the vendor.

James Buchanan, group managing director of LCP, said: “Aviemore Retail Park occupies a prime site in what is a busy all-year-round tourist destination, so we’re pleased to have added this significant centre to our real estate assets. As a business we remain committed to seeking suitable sites we can add value to and have £300 million available to invest ranging from £500,000 to £30m.”

The 50,550-square-foot Aviemore Retail Park, on Santa Claus Drive, which opened in 2017, is fully let with six tenants.

LCP is headquartered in the West Midlands and is one of the UK's largest private owners and managers of retail, leisure, industrial, office and residential property. The firm’s UK industrial portfolio totals more than 11.5 million square feet of space.