Leading property investment company LCP has acquired a parade of commercial units beneath a popular residential development in Birmingham city centre.
The acquisition of the eight units at Latitude, in Bromsgrove Street, Southside, expands the company’s property portfolio in the area – it already owns and manages The Arcadian, a popular leisure city centre venue, and B5 Southside, a retail parade on Hurst Street.
LCP acquired the units, which have a total of 13,647 sq ft space, for an undisclosed amount and follows the company’s commitment to continued growth in 2017. Last year, it invested £98 million investment in its commercial property portfolio and is looking to invest a further £200 million this year in both retail and industrial properties.
James Buchanan, LCP investment director, said: “Latitude is in an excellent location, just five minutes from Bullring, and this acquisition also enables us to build on our portfolio in Southside, which is a vibrant area of the city that is earmarked for some exciting redevelopments over the next few years.”
Tenants include Ian Henery Solicitors, Min Min Noodles, Pure Island Dry Cleaners, and Home Town China.