Property investor expands West Midlands presence with industrial estate acquisition
A UK property investment group has entered the West Midlands’ commercial sector with the acquisition of an industrial estate in Staffordshire.
MCR Property Group has purchased Toll Point Industrial Estate in Brownhills from international investment firm, Cerberus.
It now plans a major investment into the site to upgrade units in an effort to attract new occupiers.
The property, next to the Castings foundry off Lichfield Road, comprises 21 separate industrial and manufacturing units and four small office suites.
The estate, so named because of its proximity to the M6 Toll, covers a total area of 129,554 sq ft.
Chris Taylor, Asset Manager at MCR Property Group, said: “The Midlands needs more quality industrial space, and Toll Point offers a fantastic opportunity to provide just that.
“We plan to refurbish the existing units, modernising the interior to create an upgraded working environment for local businesses.”
While the region’s industrial/commercial sector may be uncharted territory for the group, it is no stranger to the Birmingham property scene.
It is investing into the plan to redevelopment Monaco House, off Bristol Road, with a new £220m residential scheme.
The new development will comprise 1,050 units and aims to create a modern village environment for both tenants and homeowners.
It said it was investing into the scheme as it believed community living was the next step forward in the UK’s private rental sector (PRS) market.
“As the UK’s second largest city, Birmingham is going from strength to strength. Monaco House is therefore predicted to generate a lot of early interest from investors across the world as one of Birmingham’s most exciting new developments,” it said.
