The Business Magazine - B2B Business News - Site Logo
The Business Magazine November 2023
Read now

Southampton retail park included in £35m multi-centre acquisition

21 November 2023
The Business Magazine article image for: Southampton retail park included in £35m multi-centre acquisition
Credit: M Core

M Core, a property giant that is recognised as one of the UK's largest, privately held commercial property collectives, has purchased Southampton's Antelope Retail Park as part of a £35 million multi-retail centre acquisition.

The park covers almost 138,000 sq ft of ground and is home to a number of shops including The Range, Lidl, Ninja Warrior, KFC Drive-Thru, The Gym, Greggs and Costa Coffee.

Other centres and convenience stores in the eight-strong portfolio are: Meynell Road Retail Park in Darlington, a 28,866 sq ft shopping park with B&M and McDonalds; a 37,005 sq ft Matalan store, in Newport on the Isle of Wight; Morrisons, Parkgate Road, in Coventry.

Visit Hampshire Biz News for bright, upbeat and positive business news from the county

LCP group managing director James Buchanan said: “We could not let up this exceptional opportunity to acquire such a high-quality, multi-site portfolio, spanning much of the UK. These assets include significant retail destinations in affluent locations, of a size, scope and social impact that supports our investment goals.

“We are excited by the potential to deliver enhanced returns through management and improvement, building on the portfolio’s existing mix of well-performing national occupiers and retailers.

“This year alone M Core has invested more than £125 million in a wide range of retail across the country, and we remain highly active in acquisitions.

''Our experienced asset management team are proactively seeking out opportunities across the country, with funds of £300 million available to invest in assets ranging from £1 million to £100 million.”

Read more - Work begins at Portsmouth's Sonar Industrial site

Tom Kilkelly started working as a freelance journalist for The Business Magazine following his graduation from UCL in 2022.

During his studies Tom became very interested in the works of Irish authors including Samuel Beckett and Flann O'Brien (Brian O'Nolan).

His current role as a freelance business reporter is his first exposure to the world of business journalism. Working at TBM has given Tom the chance to really get to grips with the goings-on in the business hive that is the South East.

Related articles