National commercial property and investment company Sheet Anchor, part of M Core, has acquired a busy town centre parade in Merthyr Tydfil, South Wales, as its programme of investment continues at pace.
It has acquired Beacons Place for an undisclosed sum and represents the latest acquisition in M Core’s investment drive of more than £150 million so far this year in retail sites.
The 28,858 sq ft centre is fully let and comprises 13 units, with tenants including Select, Greggs and Clarks, and is the main link between High Street, Tesco Extra and the railway station.
James Buchanan, group managing director of LCP, also part of M Core and which has been appointed to manage the centre, said: “Beacons Place is located in the heart of Merthyr Tydfil town centre and it already enjoys high footfall and a strong tenant line up, more than half of whom are national brands. We’re looking forward to meeting the tenants and implementing our hands-on asset management strategy to ensure the centre continues to thrive.”
M Core has invested more than £160 million over 12 months in 25 retail centres. Major acquisitions include Ocean Plaza, Southport; Central 12, Southport; and Weavers Walk, Kidderminster. It has £300 million available to invest for sites ranging from £500,000 to £30 million and portfolios up to £150 million and is actively seeking sites to buy.
The solicitor acting on behalf of Sheet Anchor was Catherine Gunz of Osborne Clarke, while James Sanders of Powell Lloyd acted as the agent. EJ Hales acted as an agent for the vendor and its solicitor was Squire Patton Boggs.