A DEVELOPMENT company has purchased a large site with a view of creating a range of commercial properties in support of local business.

MCR Property Group has just acquired the Systematic Business Park, which spans 5.47 acres and benefits from an established commercial area.

The space will now be subject to a £6.8 million renovation project which will result in “high quality, modern industrial assets” being produced.

The proposed units will include allocation for offices, loading space, HGV access, 161 parking spots, and an attractive and contemporary appearance.

MCR Property Group’s acquisition of Systematic Business Park is the latest of six since the start of 2022, as the firm seeks to expand its current commercial portfolio.

Harry Ladds, asset manager at MCR Property Group, is positive the new company’s new project will be a success for both them and business in Colchester.

He said: “Systematic Business Park is a great addition to our investment programme and Colchester is experiencing great levels of investment and growth.

“Adding new commercial spaces will support the growth of the area, and lead to additional opportunities for the local economy.

“We are working hard to follow the latest industrial trends and requirements, and our goal is to provide optimal spaces for the growing industrial sector.”