Property developer, SevenCapital, has agreed to the sale of a 63,484 square foot industrial and logistics unit in Northampton to global property investment firm, Kennedy Wilson.
Located in Pineham Business Park and within the ‘Logistics Golden Triangle’, the unit, Seven60, neighbors major occupiers including BMW, Sainsbury’s, Levi’s, Carlsberg, Royal Mail, Morrisons and The White Company.
With a service yard of 50 meters (minimum) and a floor load capacity of 50kN/m², as well as contemporary offices, Seven60 is home to global manufacturer HellermannTyton, which signed a competitive 10-year non-stop lease in December 2021.
This announcement marks the last major milestone for SevenCapital following the sale of its additional 41,786 square foot Seven40 building to global manufacturer and distributor Conglom in July 2018.
Simon Dicken, Senior Director of SevenCapital, said: “Primarily positioned in an established and reputable logistics and employment location, Seven60 offers market-leading accommodation and unrivaled connectivity to serve Northampton and the wider Midlands areas, from the East and South East.
“With a well-established occupant already in place on a substantial lease term, Seven60 represented an attractive proposition for a potential buyer. Following the strong interest in this unit, we are delighted to have accepted this sale.
Ben Blackwall, Director of Atlas Real Estate, said: “The sale of this prime logistics asset has 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.