US giant buys Golden Triangle logistics site
US-based logistics investor Cabot Properties has bought an eight-acre logistics site in the Golden Triangle.
The firm has bought two freehold units at 2300 and 2350 Kettering Venture Park in Northamptonshire from administrators at FRP Advisory for £7.9m.
The site comprises 118,337 sq ft of logistics space and is adjacent to Junction 9 of the A14.
US-based logistics investor Cabot Properties has bought an eight-acre logistics site in the Golden Triangle.
The firm has bought two freehold units at 2300 and 2350 Kettering Venture Park in Northamptonshire from administrators at FRP Advisory for £7.9m.
The site comprises 118,337 sq ft of logistics space and is adjacent to Junction 9 of the A14.
FRP was appointed administrator to local haulage company Knights of Old in September last year. Watling Real Estate was instructed to sell the warehouses in October, with an initial guide price of £8.25m.
Earlier this year, Cabot closed its biggest fund to date, with the aim of deploying some $3.5bn (£2.8 bn) into industrial acquisitions, developments and redevelopments in the US, Europe and Asia-Pacific. The fund, which raised $1.6bn in equity, is targeting investments mainly in multi-let buildings measuring between 50,000 sq ft and 250,000 sq ft. The majority of the capital is earmarked for US investment.
Ben Holyhead, an associate in the Birmingham office of Watling Real Estate, said “considerable interest” in the property had come from all segments of the market, including occupiers, investors and developers.
Savills advised Cabot on the acquisition.
Photo from Watling Real Estate and ASAP PR
