MCR Property Group acquires 370,000 sq. ft. Wolverhampton industrial siteMCR Property Group
MCR Property Group, says hundreds of jobs would be created in building work to develop 370,000 sq ft of warehouse or factory space on the site, while more than 500 permanent jobs could be created once the site is up and running.
Although the company has no company signed up to occupy the building yet, it is confident that the development will attract “high profile tenants”.
The former Alliance Paper & Tissue factory, off Wobaston Road, was completely destroyed in a major blaze in January.
In May a company called Hollytame applied to Wolverhampton council for permission to redevelop the 18.6 acre site, demolishing the wrecked factory.
It has now been bought by MCR, which has filed plans with the city council to develop approximately 370,000 sq ft of warehouse or manufacturing space, including provisions for a two-storey office element, room for 69 HGVs and 300 car parking spaces. It is now seeking planning approval for the scheme,
As well as the derelict factory, the site also contains an HGV trailer park.
Chris Taylor, fund manager of MCR Property Group, said: “Manufacturing and logistics are at the heart of the Midlands Engine and the region’s overall economic growth plan, so developments of this kind will surely attract high profile tenants to the area.
“The construction phase alone would create hundreds of temporary jobs; plus, we estimate the creation of 525 permanent roles when the scheme completes and we find a buyer – a significant boost to the Wolverhampton economy.”
The site is behind to the HS Marston Aerospace factory – part of the UTC engineering group – and close to the i54 development site that is currently home to the huge £1bn Jaguar Land Rover engine factory, the Moog aerospace factory and a growing list of technology and engineering companies.
MCR Property Group, formed in 1989, is a real estate investment and development company focused on the strategic acquisition and repositioning of commercial, residential, industrial and retail assets across the UK.