Defence firm QinetiQ has sold a 160-acre site in Bedfordshire to the development joint venture of former shareholder Carlyle Group for £17.5m.
The site comprises two buildings, a former research facility and the Yarls Wood immigration centre, and has been bought by Carlyle Skelton Development Group, a jv between the Skelton Group and Carlyle.
US private equity firm Carlyle owned 34% of QinetiQ until the former Ministry of Defence research arm floated in 2006.
According to the group’s 2006 annual report, QinetiQ has land and buildings worth a £266m.
The company said the sale was handled “at an arm’s length basis” by an “independent property agent”, which selected Carlyle Skelton from around eight bidders.
The JV refused to say what its plans were for the land.
