Commercial property and investment company LCP has acquired a parade of shops in Kilmarnock, marking its fourth such acquisition in Scotland during the past 12 months.
The firm has snapped up Western Road Shopping Centre on behalf of Sheet Anchor Investments 2, one of the LCP group of managed companies.
It agreed a price of just under £1.1 million with Tesco, which has an adjacent store and owned the fully occupied parade of seven units.
Dermit Smith, associate director retail at LCP, said: “LCP has long focused on acquiring local shopping parades and this acquisition fits perfectly with our model of providing a sustainable income stream, thanks to our proactive asset management. Given its densely populated residential location, this is a superb investment and a super facility on many people’s doorsteps.”
LCP was advised by Galbraith. Tesco was advised by EYCO.