SevenCapital Completes Sale of Prime Industrial Unit in Pineham
Leading UK property developer, SevenCapital has agreed the sale on a 63,484 sq ft industrial and logistics unit in Northampton to global real estate investment company, Kennedy Wilson.
Ideally situated at Pineham Business Park and within the ‘Golden Triangle of Logistics’, the unit, Seven60, neighbours big ticket occupiers including BMW, Sainsbury’s, Levi’s, Carlsberg, Royal Mail, Morrisons and The White Company.
Boasting a 50 metre (minimum) service yard and floor loading capacity of 50kN/sq m, along with contemporary offices, Seven60 is home to leading global manufacturer, HellermannTyton, who signed a 10-year competitive lease without break in December 2021.
The announcement marks the final major milestone for SevenCapital following the sale of its additional 41,786 sq ft Seven40 building to global manufacturer and distributor, Conglom in July 2018.
Simon Dicken, senior director at SevenCapital, said: “Primely positioned in an established and well regarded logistics and employment location, Seven60 offers market leading accommodation and unrivalled connectivity for servicing Northampton and the wider Midlands, East and South-East areas.
“With a well-established occupier already in place on a substantial lease term, Seven60 posed an attractive proposition for a prospective purchaser. Following strong interest in this unit, we’re delighted to have agreed this sale.”
Ben Blackwall, director at Atlas Real Estate, comments: “The sale of this prime logistics asset righty generated strong competition from a number of UK Institutions and overseas investors. The sale concludes a very successful exit from this development for SevenCapital, which was the company’s first logistics development.’
The buyer was represented by DTRE.