The Manchester-based developer and investor has sold the 73,000 sq ft Chesterbank Business Park close to Chester to Newcastle-based investor Schreiber UK for an undisclosed sum.
Comprising 32 units and home to occupants including Countess of Chester Hospital NHS Foundation Trust and The Gift Shop, the fully tenanted park is situated in Chester’s well-established industrial area at the western end of River Lane.
Chris Taylor, asset manager at MCR, said: “Chesterbank Business Park is part of a growing industrial and commercial district, with fantastic connectivity. We’re confident that Schreiber will make the business park an even more attractive proposition for businesses, ensuring it continues to thrive and boosts the local economy.”
Robert Feldman, chief executive of Schreiber UK, added: “We are very excited to have purchased Chesterbank Business Park to add to our growing portfolio, we want to give opportunities to local firms to start off in business at good terms and flexible leases, and we hope to improve the already popular business park.”
This year has been a typically busy one for MCR, with disposals including Ash Court at Parc Menai and No.1 Temple Square in Liverpool; the acquisition of the Wheatsheaf shopping centre in Rochdale; and more than 70,000 sq ft of lettings at Universal Square in Manchester. Various MCR subsidiaries have advanced residential schemes in former office blocks.