Kidderminster's Weavers Wharf with McDonald's and M&S sold

National commercial property and investment company LCP, part of M Core, has purchased the 220,000-square-foot town centre shopping hotspot. 

It's home to tenants Marks & Spencer, Next and TK Maxx, Café Nero, Boots, Sports Direct, McDonald's, TruGym, and Premier Inn.

Weavers Wharf currently has five empty units available for new businesses to move into, including the former Debenhams. 

LCP acquired the centre for an undisclosed sum from Nuveen Estate as part of its proactive acquisition drive in shopping parades, centres and retail parks across the country.

The former Debenhams store in Weavers Wharf, Kidderminster (Image: Newsquest)

James Buchanan, LCP group managing director, said “This significant investment demonstrates our appetite for acquisition and our focus on intensive asset management, where we want to realise opportunities for adding value.

“As well as achieving a good return on our investment, we’re committed to improving our retail estate, providing better value for money for tenants and, where there are voids, attracting good-quality brands, ensuring a better shopping experience, and, of course, helping to bring jobs.

“It is thanks to the hard work by our team, who identify the sites for us to acquire, then use their considerable expertise and extensive contacts to attract tenants, that our strategy is working.”

Simon Eatough, director of landlord and tenant at LCP, will lead the asset management team.

Major UK acquisitions for M Core include Cwmbran Centre, Cwmbran; The Galleries, Washington, Sunderland; and Three Spires in Lichfield.

It has £300 million available to invest for assets ranging from £500,000 to £30 million and portfolios up to £150 million, and is actively seeking sites for acquisition.

For more information about the availability of units, contact Simon Eatough: SEatough@lcpproperties.co.uk, or agents for the scheme; Chris Linnel, of McMullen Real Estate and Camilla Clifton of Morgan Williams.