London & Cambridge Properties has acquired 100 retail units across England from a fund advised by Tristan Capital Partners and Addington Capital for £23.3m.
The Blossom Portfolio was purchased from EPI Special Situations and comprises 14 sites, including high street stores and neighbourhood parades from Bournemouth to Lancashire.
The acquisition brings LCP’s retail investment portfolio to more than £103m in the last 18 months.
EPISO and Addington had acquired the Blossom portfolio in 2014 as part of Project Tree – a £150m portfolio of high street retail, office and residential.
James Buchanan, investment director at LCP, said: “The Blossom portfolio presented us with the ideal opportunity to purchase an excellent mix of thriving high street properties and local neighbourhood parades, which has increasingly become a focus for us.
“We’ve already acquired more than 50 local convenience parades in the past 18 months and this is yet another significant purchase for LCP. Our proactive asset managers are already looking carefully at how we can add further value for the tenants and local shoppers who use the stores.”
LCP was represented by Allsop, while Tristan & Addington Capital was advised by Cushman & Wakefield.
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