Leading property company London & Cambridge Properties Ltd (LCP) is to embark on a period of investment as it looks to strengthen further its market position, newly appointed managing director Nick Burgess has revealed.
Nick, who has moved to LCP’s headquarters in Pensnett in the West Midlands from its London office after taking the reins as MD, said its solid position in both the industrial and retail markets meant the time was now right to acquire more properties.
The industrial specialist, who joined LCP in 1991 as management surveyor before being appointed director in 1996, said: “Vacancy rates are as low as they have ever been and that is because development hasn’t kept up with the needs of new businesses.
“As the economy has now climbed out of the recession, London & Cambridge Properties is now looking to seek new opportunities across the commercial property sector and we will be investing in more property across the country.”
The company manages a portfolio of more than 16 million square feet of commercial property across the UK, which is held for long-term investment purposes. Its Local Convenience Parades arm focuses on the local convenience shopping sector and has a portfolio across the UK comprising more than 205 retail sites, 1,610 retail units and more than 4 million sq ft.
The 60-year-old said its local neighbourhood retail parades division was a priority for the company, having already secured 11 retail sites this year alone.
“Smaller retail parades is an area we have become increasingly focused on,” he said. “They are at the heart of communities and vital for many local people who want access to good quality shops on their doorstep and we want our name to be synonymous with local neighbourhood centres.”
The investment in new properties will also lead to further employment opportunities within the company.
“As we develop our portfolio, we will be looking for more commercial property specialists to join the talented teams both in the West Midlands and in our London office,” Nick continued.
“We are in an extremely robust position and I’m very much looking forward to continuing our drive to strengthen our position in the market. We rightly have a reputation for delivering high quality industrial units and retail properties to our tenants and that is something everyone at LCP is committed to.”