M Core has acquired The Mall retail parade in the Cambridge suburb of Bar Hill for an undisclosed price from a private seller.
The 29,904 sq ft parade, which has 13 units, is anchored by Tesco Extra with other tenants including Costa Coffee, Ladbrokes and Card Factory.
James Buchanan, group managing director of LCP Group, which is part of M Core, said: “We’ve had an extremely busy year, acquiring 25 new retail parades and shopping centres as part of our long-term strategic plan to invest in the retail sector. The Mall is already well occupied but there is significant opportunity to improve the tenant mix, which would provide local shoppers with even more choice on their doorstep.
“With the town project of Northstowe taking place nearby, we are confident that The Mall will continue to thrive and our asset managers are already working hard to explore options.”
LCP was advised on The Mall acquisition by Bidwells. Its solicitor was Osborne Clarke. The centre will be managed by LCP asset manager George Kearney.
