Watling Real Estate has sold a substantial warehousing and distribution hub at Kettering Venture Park to a US-based investor for £7.9 million.
Watling Real Estate secured a sale of the property on behalf of Rajnesh Mittal and Philip Armstrong of FRP Advisory, who were appointed as administrators of Knights of Old Ltd in September 2023.
The property has been acquired by Cabot Properties, a private US-based conglomerate which invests in and develops logistics sites in strategic locations across the globe.
The two freehold units at 2300 & 2350 Kettering Venture Park, totalling 118,337 sq ft on an 8.11 acre site, sit within the “Golden Triangle”, adjacent to Junction 9 of the A14, with direct links to the national motorway network and ports to the east.
The UK’s “Golden Triangle” is considered the premier distribution location in the UK due to its accessibility, with approximately 90% of the population within four hours’ drive time.
It has attracted a high concentration of retailers, distribution and third-party logistics companies.
Ben Holyhead, an associate in the Birmingham office of Watling Real Estate, said: “We received considerable interest in the property from all segments of the market, including occupiers, investors and developers. The property’s strategic location and excellent distribution specification made it an attractive proposition.
“We are pleased to have secured a strong price for the property for the benefit of the administration.”
The administrators were advised by law firm Gateley Legal and Mayer Brown and Savills acted for Cabot Properties.
