MCR Property Group sell The Wheatsheaf Shopping Centre in Rochdale
The Wheatsheaf Shopping Centre in Rochdale, Greater Manchester has been sold by Manchester-based real estate developer MCR Property Group for an undisclosed sum.
The centre was constructed in 1991 and provided accommodation totalling approximately 15,130 sq m (162,862 sq ft) Discussing the sale last week, MCR Property Group Commercial Managing Director, Mark Hayes said: “MCR’s strategy remains to realign the portfolio, focusing on value add industrial real estate through the disposal of non-core assets. The sale of The Wheatsheaf Shopping Centre enables us to re-cycle capital and invest into its core portfolio and development pipeline. ”
Over the past 12 months, MCR has focused on boosting its industrial portfolio and in the last quarter alone has acquired £20million of assets throughout the UK.