MCR Property Group has acquired a warehouse conversion residential development in Manchester city centre and intends to push the project forward after years of stagnation. The company has purchased the Grade II-listed Bloom & Mindel Victorian warehouses on Bloom Street, which already have planning permission to be transformed into 80 homes.
Long-awaited development
Plans for the scheme were initially submitted in 2016 and secured planning approval in 2020, but the project has not moved ahead since then. Aneel Mussarat, founder of MCR Property Group, stated that his firm is already collaborating with project consultants, construction partners, and contractors to advance the development. The group will also coordinate with Manchester City Council on planning matters.
This acquisition is the latest in a series of major purchases for MCR, which last month announced it was buying the iconic CIS Tower.
Apartment details and heritage features
The Bloom & Mindel scheme will comprise 80 one, two, and three-bedroom apartments. Original architectural elements such as exposed brickwork, timber beams, and cast-iron columns will be preserved.
Aneel Mussarat commented: “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.”
He added: “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.
“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.”
Other MCR developments
MCR’s other local projects include the nearby Harter Street residential development. In October, the company secured a £250 million debt facility to support its acquisition and growth plans. In April, it purchased a London hotel and apartments portfolio for £123 million, and in March it acquired Swindon’s former Intel UK headquarters, announcing a £130 million residential-led redevelopment.
The project team for Bloom & Mindel includes Fletcher Rae, TIER, Black Sheep Homes, Paul Butler, Consulux, SOCOTEC, and Peak Sustainability.
