Another of the sites acquired by The MRP Fund No. 1 LP from Aviva Investors (see Weedon Road), this site comprised three tenanted industrial units strategically located opposite the main vehicular entrance to a Sainsbury's superstore. The latter had recently secured planning consent for a doubling of its sales' area, providing a local precedent for increased retail floor-space. Post-purchase, MRP entered into discussions with Lidl for the sale of the site subject to Lidl obtaining planning consent for a retail foodstore and associated parking. Contracts were exchanged and Lidl successfully obtained planning consent for an 11,500 sq ft store. The completed sale generated a 240% uplift in site value.
|client||MRP Fund No.1 LP/Lidl|