MCR Property Group Completes Sale of Prime Industrial Site in Bristol
MCR Property Group has completed the sale of four acres of prime industrial land at Severngate in Avonmouth, Bristol, to a private open storage provider.
The Group retains circa 9 acres at Severngate Business Park. Originally earmarked as a site on which to construct 180,000 sqft of industrial space, market changes and the strength of the open storage sector have allowed the company to move plans in a new direction.
Sam Henderson, Head of Transactions for the Southern region at MCR commented: “The disposal of this undevelopable part of the site demonstrates our ability to be flexible to account for market conditions”.
“The industrial sector is a key focus for us as a business moving forward and the retained land at Severngate sits well within our model. MCR is actively seeking income-producing, industrial investment opportunities to add to our growing portfolio”.
The commercial agents acting on behalf of MCR were Avison Young Bristol. TLT Solicitors LLP acted as legal representative for MCR.