LCP, the national commercial property and investment company, has appointed an asset manager to help grow its shopping centre portfolio.
Harriet Moloney joins the West Midlands-based company from LaSalle Investment Management, London, where she was retail asset manager and joint fund manager for a global pension fund client.
She is tasked with looking at ways of increasing occupancy and introducing alternative opportunities at the Wulfrun Centre in Wolverhampton, the Churchill Centre, in Dudley, and the Arcadian Centre in Birmingham.
“Most of my experience has been in the shopping centre sector, which has involved both acquisitions and disposals as well as the day to day asset management of centres,” she said. “LCP has a great reputation within the market and is one of the few buyers still acquiring within the convenience end of the retail market.
“My main goal will be to drive value through reducing vacancy rates, renewing existing leases and future-proofing these local, convenience-led schemes by investigating alternative use opportunities whether it be food and beverage, residential or leisure.”
Andrew Barrett, LCP retail director, said: “LCP’s retail investment continues to grow and to ensure that we are able to manage our tenants to the best of our ability and to look creatively at how we utilise those spaces we own and manage, we wanted to appoint an asset manager with significant retail experience. Harriet’s expertise in this specialist sector is the ideal complement to our LCP retail team.”
More than half of LCP’s commercial property portfolio is in retail, owning and managing more than 7.2m sq ft of local convenience parades, high street shops, retail parks and shopping centres at 365 sites. Its shopping centres including the Wulfrun Centre, Wolverhampton; Astle Retail Park, West Bromwich; The Concourse Centre, Skelmersdale; The Hardshaw Centre, St Helens; Pitsea Centre, Basildon; and the Wellington Centre, Aldershot.