MCR snaps up Earlsdon Park site in Coventry for undisclosed sum
Property group MCR has completed the purchase of a 3.65-acre mixed-use development in Coventry, around six months after previous owners Clearbell put the site up for sale.
The combined 3.65-acre site includes a 100-bedroom Premier Inn hotel, 23,000 sq ft of Grade A offices, a 620-seat theatre and café bar, and Earlsdon One – a 72,000 sq ft HQ-style office building with a 484-space multi-storey car park and long term tenants including Premier Inn, Foundever GB Ltd and Coventry City Council.
No value was officially disclosed for the deal, although earlier this year the cluster of properties was advertised for sale with Savills for £16.5m.
MCR says it will now focus on converting vacant office space on the development into “modern, flexible serviced workspace”, targeting the city’s universities, start-ups, and expanding professional sectors.
Sustainability upgrades and operational improvements are also planned in order to future-proof the buildings and enhance their long-term value.
Meanwhile, Martin Brown, Director of Commercial Property at MCR Property Group, said the purchase underlined the firm’s confidence in Coventry’s future.
“Our investment in Earlsdon Park and Earlsdon One is more than an acquisition, it’s a commitment to the city’s future,” said Martin Brown, Director of Commercial Property at MCR Property Group
“We see this as a cornerstone for our Midlands growth strategy and a platform for long-term regeneration. Coventry has all the right fundamentals, a skilled workforce, two thriving universities, and excellent transport links.”
