Collapsed haulage firm’s warehouses on the market for £8.25m
The administrator of collapsed haulage firm Knights of Old, FRP Advisory, has put its Northamptonshire warehouses on the market for an £8.25m asking price.
Watling Real Estate is marketing the vacant properties at 2300 and 2350 Kettering Venture Park. They provide 118,337 sq ft of space and are on an 8.11-acre site on Kettering Parkway.
Ben Holyhead, an associate in Watling Real Estate’s Birmingham office, said that the warehouses are within the East Midlands’ “Golden Triangle”, considered the UK’s premier distribution and logistics location, offering access to approximately 90% of the UK population within a four-hour drive time.
Unit 2350 provides 103,143 sq ft, whilst Unit 2300 provides 15,194 sq ft. Both include distribution warehouses, with ancillary office accommodation and secure yard and circulation space.
Holyhead said: “These two modern distribution warehouses present excellent asset management and extension potential, and offers in the order of £8.25 million are invited for the freehold interests.
“The warehouses are presented to a modern distribution specification, with clear internal height of up to 10m, up to 50m yard depths, multiple dock level loading doors and a large, secure yard, with a low site coverage of 27%.
“The properties are also capable of being independently occupied owing to separate titles and mains services.
“We expect the premises to be of interest to distribution, logistics and warehousing operators, alongside property investors.”
The 158-year-old Knights of Old firm was part of the KNP Logistics Group. Some 730 people lost their jobs when the firm fell into administration at the end of September.
