Property firm acquires former Carillion offices for £1.45m
Midlands property investment company, Norton Property Investments, has acquired six office units at Brooklands Court on Kettering Venture Park, formerly owned by Carillion.
NPI (Kettering), a wholly owned subsidiary of Norton Property Investments, has acquired the freehold interest in the six units for £1.45m.
The deal is Norton’s largest to date, and provides a total of 13,686 sq ft with an initial net yield of 9.95%.
Norton managing director Ben Spickernell said: “Brooklands Court represents an opportunistic purchase for us, with good asset management opportunities in the short term.
“The fact that the market in the Kettering area is constrained, which drives value, was a positive for us.”
Real estate experts CBRE Birmingham acted for Norton.
The Wolverhampton headquarters of collapsed construction giant Carillion were put up for sale with an asking price of more than £3m last week.