Warner Estate has completed the disposal of the Ash Portfolio with the sale of the last two properties in Falkirk and Hull.
Hansteen has purchased Gilston Park, near Polmon, Falkirk and ten smaller landholdings for £5.1m.
Gilston Park extends to circa 87 acres and is subject to an outline planning consent for commercial development, forming part of a greater masterplan.
In North Ferriby, Kingston-upon-Hull, St Modwen has purchased the £7.6m Melton Park, comprising three parcels of land totalling 234.5 acres.
Planning permission has been granted to develop approximately 116 acres of land for offices, industrial or distribution use.
The sales are part of Warner Estate’s plan dispose of the directly owned property assets of Ashtenne Holdings, following the purchase of Ashtenne in May 2005.
The initial nine properties from the Ash Portfolio were sold to Kier Ventures Limited for £9.7m late last year and the amount received for the whole portfolio exceeds the value attributed to the assets at the time of acquisition.
DTZ Debenham Tie Leung represented Warner Estate in the sale.
References: EGi News 26/01/06
