MCR Property Group has bought a second portfolio from Legal & General for just under £11m, as tipped by Property Week (14.03.08).

MCR bought the ‘Realm’ portfolio, comprising office, retail and leisure in Southend-on-Sea, Poole, Blythe, Llanelli and Wolverhampton, at a net initial yield of 7.6%.

The deal follows MCR’s purchase of another portfolio from Legal & General worth £33m, known as ‘Illustrious’.

Mark Hayes, investment director at MCR, said: ‘To have secured this second L&G portfolio in such a timeframe is testament to our ability to recognise a good opportunity and have the necessary funds available to react quickly.’

Knight Frank acted on behalf of MCR Property Group, whilst Jones Lang LaSalle advised Legal & General.