MCR acquires Manchester conversion scheme from Paragon Property
Fresh from inking a deal to acquire the city’s iconic CIS tower, Aneel Mussarat’s MCR Property has added to its growing portfolio with a pair of former warehouses on Bloom Street.
Beech Holdings secured planning approval for the conversion of Mindel House and the neighbouring 11 Bloom Street into 80 apartments in 2020 but no work ever took place.
Now, MCR has announced it has acquired the two grade two-listed warehouses from Paragon Property, one of Stephen Beech’s former businesses, and plans to deliver the proposals as approved.
Mussarat, founder of MCR Property Group, said: “Bloom & Mindel has remained without development progress for a number of years, and our acquisition marks an important new chapter for these significant heritage buildings. We are actively engaged with our project consultants, construction partners and contractors to progress the scheme, while working closely with Manchester City Council to discharge the relevant planning and listed building consent conditions.”
“MCR Property Group has a strong track record of delivering complex redevelopment projects and bringing challenging sites back into productive use. That experience gives us the capability required to progress a heritage scheme of this nature while protecting the architectural features that make the buildings so distinctive.”
He added: “As a Manchester-based business, we are proud to be investing in our home city. Our ambition is to deliver high-quality new homes, secure the long-term future of these important buildings and make a positive contribution to the surrounding area.”
The project team for the development includes Fletcher Rae, TIER, Black Sheep Homes, Paul Butler, Consolux, SOCOTEC, and Peak Sustainability.
The scheme, on the corner of Bloom Street and Minshull Street close to Piccadilly station, is one of three conversion in the immediate vicinity. On the opposite side of Bloom Street, developer Views is progressing plans to convert 42 Bloom Street into 39 flats, while The James has permission to convert the 77,000 sq ft Chorlton House office building into 261 short-stay apartments.
