Property group LCP snaps up industrial units in Central Belt
Commercial property and investment company LCP has expanded its Scottish portfolio with the purchase of a terrace of seven industrial units at a Cumbernauld industrial estate.
LCP acquired the units, which total almost 41,000 square feet, at Cumbernauld Business Park on behalf of its L & C Investments arm for an undisclosed sum.
The units range from approximately 6,500 sq ft to close to 21,000 sq ft and are let to four businesses: R3 Polygon UK, Red-d-Arc, Fresco Dog Foods and Edmundson Electrical.
Each of the units has been refurbished and benefits from overclad roofs, external cladding, and dedicated car parking and yard areas. Cumbernauld Business Park is located very close to the M80, providing easy access to Glasgow and other Central Belt locations.
LCP asset manager Roddy Proudfoot said: “This acquisition complements our existing industrial portfolio and demonstrates our continued appetite to invest in both industrial and retail property in Scotland. As occupiers quickly discover, we provide hands-on management to improve assets and progress future lease regear and reletting opportunities as they arise.”
The West Midlands-based firm, which has an office in Glasgow, manages a portfolio of more than 19 million sq ft of commercial property across the UK.