Cabot Properties has revealed plans to redevelop 100,000 sq ft of industrial space in Kettering, Northamptonshire.
The firm bought the eight-acre site with two buildings for £7.9m in April. The purchase was made on behalf of its Industrial Value Fund VII, representing the fund’s fourth investment in the UK.
The buildings were previously owned and occupied by local haulage company Knights of Old, which fell into administration following a cyber-attack in June last year.
Cabot will transform the two buildings into grade-A logistics space, featuring an upgraded power supply to a minimum of 750 kVA. The scheme will target EPC A and BREEAM In-Use certification.
The buildings are also expected to offer flexibility for an incoming tenant, providing ample space for lorry parking. The refurbished spaces are expected to be available from Q4 2024.
Cabot Kettering forms a part of Kettering Venture Park, a premier distribution location in Northamptonshire, located on the southern edge of Kettering with direct access to the motorway network, including the M1 and M6 to the west and the A1(M) and M11 to the east.
Jed Raymond, director of asset management for UK and Europe, said: “Cabot Kettering is one of several refurbishment or development projects we’re undertaking in order to bring modern products to market.”
Christian Smith, industrial and logistics director at Savills, which is the leasing agent on the park, said: “This represents an opportunity to bring buildings to a market lacking in stock, in a popular location. The large secure yards on each building mean they will appeal to both warehouse and industrial occupiers alike.”
Image © Cabot Properties
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