M Core eyeing growth after £144 million deals

A commercial property operator has refused to rule out fresh expansion after a £144 million takeover spree buoyed its progress.

M Core says it is “well-positioned for continued success” following 19 acquisitions across recent months that have pushed its portfolio beyond £2.5 billion.

The business was boosted by its LCP arm, which now oversees Greater Manchester’s Bramhall Village Square and Glasgow’s Princes Square, and its Evolve Estates division, which completed a deal for Sunderland’s Bridges Shopping Centre in the summer and sewed up a further agreement for Carters Square, in Uttoxeter, Staffordshire.

Bosses say LCP has maintained a 95 per cent occupancy rate across 6484 units in 482 properties nationally across 2024 to date, with its UK and European portfolio standing at £2.3 billion.

They added Evolve Estates has bought seven assets, totalling 1,071,000sq ft of space and representing a gross investment of £47 million.

Sebastian Macdonald-Hall, M Core chief investment officer (Europe), said: “Our impressive UK performance and acquisitions to date reinforce our commitment to growth and value creation.

“With a robust portfolio and a strong pan-European presence, M Core is well-positioned for continued success throughout 2024 in the commercial property market.”

Evolve Estates’ deals also included an agreement for Billingham town centre.

M Core's UK portfolio spans more than 550 locations, which include scores of sites in London, the Midlands, Yorkshire and Scotland.

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