LCP ACQUIRES BOSCOMOOR PARADE

London & Cambridge Properties (LCP) has taken over management of Boscomoor retail parade in Penkridge as part of its Local Convenience Parades portfolio.

The 23,919 sq ft development was purchased for an undisclosed sum and comprises nine units with well-known tenants such as The Co-operative and Premier Convenience Store.

Jo Salmon, retail portfolio manager, said it plans to enhance the site but stressed that no there are no firm plans yet in place.

“Boscomoor is a well-used parade that serves local residents and passing motorists very well,” she said. “We will be using our intensive management skills to enhance and strengthen the investment.”

LCP is undertaking an ambitious programme to invest in the local convenience sector. This year its investment in small, neighbourhood centres has totalled more than £110 million.  It is committed to continued growth in this sector with a further £100 million earmarked for acquisition of local parades in 2016.