Ocean Plaza and Central 12 retail estates sold to property group

Retail parks at Ocean Plaza and Central 12 have been sold to property investment group M Core.

Prices for the two separate deals have not been announced, though agents were seeking offers above £26.9m for Central 12.

Both deals were completed by M Core subsidiary LCP.

Upon announcing the deal, LCP confirmed that retailer B&M have agreed a five year lease at Central 12. The new store is expected to open this summer.

Barry Flint, LCP director said: “Central 12 is a busy retail park with a range of national brands and independent retailers, which has a real community feel to it. We’re renowned for our intensive asset management and the team is already on the ground, making several improvements, including updating the public realm.

“We’re speaking to new national retailers and local management about how we can continue to improve the shopping experience for visitors, and are committed to working with the local community to ensure that the park is a positive asset for the area. We hope to announce new retailers very soon.”