London & Cambridge Properties has boosted its retail portfolio with the £23.3 million acquisition of 100 retail units.
The accommodation is spread across England and has been acquired by the Kingswinford firm from EPI Special Situations 3, a fund advised by Tristan Capital Partners and Addington Capital.
Called 'Blossom Portfolio', it comprises 14 sites and includes high street stores and neighbourhood shopping parades let to companies such as Specsavers, Superdrug, KFC and Iceland, covering 216,000 sq ft.
It contains one West Midlands site in Shakespeare Drive, Solihull, which comprises ten units covering 11,980 sq ft and whose tenants include One Stop and Anglian Windows.
The deal brings LCP's investment in retail properties to more than £103 million in the last 18 months.
Investment director James Buchanan said: "The Blossom Portfolio presented us with the ideal opportunity to purchase an excellent mix of thriving high street properties and local neighbourhood parades, which has increasingly become a focus for us.
"We've already acquired more than 50 local convenience parades in the past 18 months and this is yet another significant purchase for LCP.
"Our proactive asset managers are already looking carefully at how we can add further value for the tenants and local shoppers who use the stores."
Matthew Allen, principal of Addington Capital, added: "Our strategy is always to work closely with our joint venture partners to find property opportunities where we can buy well and unlock value through active asset management and then dispose to specialist sector investors."
Property consultancies Allsop and Cushman & Wakefield acted for LCP and Tristan Capital Partners and Addington Capital respectively.
