Granel may build a large residential complex in the south-east of Moscow

Granel Group is negotiating with MR Group to purchase a 7-hectare site from them on 1st Frezernaya Street in the south-east of Moscow – this is the former territory of the Frazer cutting tools plant. This was told to Vedomosti by two consultants who worked with the participants in the potential deal, and confirmed by a source close to one of its parties. According to them, the sale and purchase agreement has not yet been signed, but negotiations are at an advanced stage. Granel has already created a legal entity for this site, consultants say. This is also confirmed by the data of SPARK-Interfax: on November 29, the companies associated with the group – Investgroup and Dubrovka, 5 – established Specialized Developer Frezerny LLC.

The representative of MR Group did not respond to the request of Vedomosti, the representative of Granel declined to comment. So did Nikoliers, which market participants call the consultant of this transaction. MR Group consolidated the sites of the former Fraser plant last year. In September 2022, the developer received permission from the Moscow City Hall to build 300,000 sq. m of real estate, of which 237,000 sq. m – housing, the rest – offices and infrastructure. At least that’s what Moskomstroyinvest reported. MR Group’s partner in this project was to be Alexander Putilin, general director and owner of the Rostov company Yugbunkerservis. In the summer, he acquired 22.5% of the company that owns the rights to the Fraser territory. A source close to the negotiations between the Granel Group and MR Group claims that he also plans to sell his stake. It was not possible to contact Putilin.