Milroy Developments have forward sold and prelet part of their Knightrider Court development in Maidstone, Kent, which is due for completion in just over a year’s time.
The Merchant Navy Officers’ Pension Fund have paid £4.6m for the 21,500-sq ft Link House — which is prelet to Link Underwriting Agency at a rent of £279,500 pa.
Milroy plan to retain the development’s remaining building, Kestrel House, in their portfolio. Due for completion in 1990, the 17,000-sq ft unit has yet to be put on the market.
St Quintin and Merchant Navy Investment Management advised MNOPF, while Morgan Grenfell Laurie and G A Commercial acted for the vendors on the sale.
In the letting to Link, G A Commercial acted for Milroy, and Savills advised the lessee. Both agents are retained on the letting of Kestrel House.
