MCR Property Group has completed the acquisition of Pipers Way in Swindon, the 187,650-square-foot former UK headquarters of Intel.
The office campus extends to 12.87 acres. MCR said the transaction forms part of its UK-wide growth strategy, supported by its debt facility with Pollen Capital, which it says means it can move decisively on large-scale opportunities.
The former Intel UK headquarters occupies a prominent location half a mile south of Swindon Old Town, with direct access to Junctions 15 and 16 of the M4. The three interlinked buildings have 500 car parking spaces. Intel left the building formally last year after 40 years at the site.
Martin Brown, director of commercial property at MCR Property Group, said in a statement: “This was a high-conviction acquisition aligned with our UK growth strategy. With the support of our funding platform alongside Pollen Capital, we are actively deploying capital into assets where we can take control and drive value.
Swindon recorded population growth of 11.6% between 2011 and 2021, reinforcing the town’s long-term trajectory
MCR confirmed it has started early-stage work on a residential-led regeneration scheme for the site with an estimated gross development value of approximately £130 million, capable of delivering around 350 homes, subject to planning. The developer will work closely with local stakeholders as proposals are brought forward.
CoStar News revealed that Intel, the US technology giant, was selling its historic UK headquarters in 2024.
The semiconductor chip giant mandated Colliers to sell the site, with the adviser saying it was suitable for multiple value-add development opportunities. No price was guided but market sources expected it to fetch up to £9 million.
MCR Property Group is a UK real estate investment and development company with a diversified portfolio spanning residential, commercial, industrial, build-to-rent and student accommodation.
The business was an early pioneer of purpose-built student accommodation in Manchester during the early 2000s. While it has since exited its Manchester holdings, MCR continues to make new PBSA investments nationwide.
Recent acquisitions and developments include schemes in Liverpool, Sheffield and Sunderland.