Strategic regional growth bolstered by opening of new Mayfair office
A number of strategic acquisitions across the South of England in the first six months of 2019 are driving a period of impressive growth for national developer, MCR Property Group.
To support operations in the South, the developer established its London base in 2014 and recently acquired 5,500 sq. ft. of new office space on Farm Street in the heart of Mayfair for its 50-strong team in the Capital.
Since January, MCR Property Group has acquired four key commercial and residential sites in the region, totalling a combined 596,979 sq. ft. of development potential. These include:
- Wiltshire Court, Swindon, a 43,000 sq. ft. commercial property on Farnsby Street in Swindon
- Newlands Road, Luton, a 270,943 sq. ft. site with plans to build 340 one and two-bedroom residential units
- An 87,016 sq. ft. block at Bristol’s Parkview Campus, with permitted development rights to build 162 one and two-bedroom apartments.
- A 196,020 sq. ft. brownfield site on Dallas Road in Bedford, with the view to put forward plans to build a high quality residential scheme in the sought-after commuter town.
The group’s latest land acquisitions are part of its expanding residential pipeline in the South, which now totals 14 sites in prime locations, such as Luton, High Wycombe and Bristol.
With offices in Manchester, Birmingham, Edinburgh and London, the company employees more than 500 people across the UK. A number of key appointments have been made to the group’s London-based team to date and the company is planning a major recruitment drive across its national bases, with plans to double its workforce.
Nationally, MCR Property Group has more than 14,000 homes in the pipeline, while owning and operating over 40 commercial schemes. As a result, the company has cemented its place as one the UK’s leading developers, with ambitious plans to deliver £3billion of development annually over the next five years.
Chris Taylor, fund manager of MCR Property Group, said: “We made a strategic decision to target the South of England as a core focus for 2019, owing to the continuing strength of the market. These recent acquisitions have been significant and enabled us to grow our employee presence in London. As a result, we continue to attract a number of talented individuals who will prove integral to our future plans.”
“Our progress over the last six months has surpassed expectations and we’re anticipating even stronger growth through Q4 of 2019 and into 2020. With this, we’ll continue to develop fantastic homes and prime commercial space, helping to meet national demand for high-quality accommodation.”
Jul 31st, 2019