Knights of Old Kettering warehouses, offices and yards go up for sale for £8.25m
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Logistics company Knights of Old’s former headquarters, warehouses and yards have gone up for sale after their parent company went into administration.
Hundreds of employees lost their jobs when the Kettering-based haulage company, part of KNP Logistics Group, ran into financial difficulties this year.
The complex situated within Kettering Venture Park has gone on the market for offers around £8.25m for the freehold interest.
Birmingham-based Watling Real Estate Limited describes Kettering and its position within the UK’s ‘Golden Triangle’ as ‘the premier distribution location in the UK’.
The ‘Golden Triangle’ has become the key strategic location for the UK’s supply chain, with a high concentration of retailers, distribution and 3PL operators occupying hubs within the region able to reach 90 per cent of the UK population within four hours.
Up for sale – either as one lot or separately – the property comprises two modern distribution warehouses known as units 2300 and 2350, totalling about 118,337 sq ft on an 8.11-acre site.
Unit 2300 has a modern detached warehouse with a two-storey block, a large concrete yard and parking.
The second site – Unit 2350 – sits in 6.97 acres and has a ‘substantial’ modern detached distribution warehouse and office accommodation.
KNP Logistics Group was formed in 2016 when Knights of Old was merged with Nelson Distribution Limited including Steve Porter Transport Limited and Merlin Supply Chain Solutions Limited.
The group employed more than 750 employees and had a 350-truck, 500-trailer fleet and 55,000sq m of distribution space.
In June 2023, KNP Logistics Group suffered a major ransomware attack that ‘adversely impacted on the financial position’ of the group and ultimately, ‘its ability to secure additional investment and funding’.
Rajnesh Mittal and Philip Armstrong of FRP Advisory Trading Limited were appointed as joint administrators of the main trading entities in the group on September 25.
Offers in the order of £8.25m are invited for the freehold interest. Offers for the constituent parts may also be considered.
For more information contact Watling Real Estate Limited, Birmingham Colmore Row, Birmingham on 0121 728 2317, or go to https://watling.com/contact-us/