Kettering warehouse park sold in £68m deal

A warehouse park on the edge of Kettering has been sold as part of a whopping £68m deal.

A Tristan Capital Partners fund has bought a logistics portfolio from the Richardson family, which includes Cransley Park just off Junction 8 of the A14, on the site of the former Cransley Iron Works. The deal also includes a site in Redditch.

Cransley Park, which was previously sold by developers St Francis Group who were still working with the Richardsons, was declared 'open for business' last year.

Its five warehouses - which range from 25,000 sq ft to 100,000 sq ft - are all still marketed as available on the Cransley Park website.

Property agents Prop-Search say discussions are "ongoing with several potential occupiers".

Gareth Williams, director at St Francis Group said: “During difficult times we are delighted to have been able to capitalise on continued investor appetite for high quality and well-located industrial warehouse stock.

"The St Francis Group building specification has evolved into a superior yet economical product and having regenerated both former brown field sites, we are delighted to see them sold into long term ownership.”

Plans to build a business park including offices and a hotel on the site were first submitted in 2006. The hotel was later dropped from plans.

It had been hoped in 2016 that the warehouse park would be ready for occupation by the end of that year, but by November Travellers parked up.

A drive-thru Costa Coffee at the front of the site was approved last year and building work is nearing completion.

Earlier this year a car dealership announced plans to expand into Northamptonshire and build a showroom there.Message from the editor:

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