Commercial property and investment company LCP has opened a South West office as it looks to harness growth across the region.
Adam Martin joins the business from Knight Frank, where he was head of South West Lease Advisory and worked with LCP as a consultant for the past four years.
He has more than 12 years’ commercial property experience in the Bristol and wider south west market.
As associate director and head of the Bristol office, Adam will be responsible for the asset management of LCP’s industrial and retail holdings in the city and the oversight of the company’s national headlease portfolio. Its office is based at Berkeley Square, Clifton.
He said: “Having worked for LCP as a consultant and seeing first-hand, the dynamic approach it takes to managing its property portfolio, the chance to join one of the UK’s largest privately owned property companies was too good to refuse and I am relishing the challenge of developing LCP’s presence in the south west region.”
Welcoming Adam to LCP, Ed Mileham, head of asset managers, said: “We are experiencing strong and steady growth across sour portfolios, buoyed in particular by our focused acquisitions in the retail and local convenience sector. We are in the position where our portfolio in the south west needs someone on the ground in the local area and Adam is ideally placed to provide expert asset management.”
In 2017, LCP opened its first Scotland office in Glasgow. Last month, LCP announced another record year for the financial year ending 31 March 2019, following 12 months complementary acquisitions, particularly in the retail sector.
The Group of companies recorded a 6% increase in underlying profits to £61.4m, while turnover was also up 7% on the previous year at £129.7m. The value of its entire portfolio increased to £1,469.3m, up by 4% on the previous year, with a valuation uplift of 1.5%, which comes largely from rental increases and yield compression in the industrial sector, as well as positive asset management, particularly in its local convenience retail portfolio.
