Warehouse next to A14 between Kettering and Thrapston sold in multi-million pound deal as KNP Logistics Knights of Old asset sale continues
A warehouse complex in a ‘prime’ location once owned by KNP Logistics Group – formerly Knights of Old – has been sold in a ‘multi-million pound’ deal.
Lambert Smith Hampton successfully completed the multi-million-pound sale of the 143,818 sq. ft. former KNP Logistics Group warehouse in Kettering Road, Islip.
KNP Logistics Group, which was formed in 2016 following the merger of Knights of Old with Derby-based Nelson Distribution, went into administration in November 2023.
A total of 730 employees lost their jobs when the Kettering-based haulage company ran into financial difficulties after a ransomware ‘cyber-attack’.
Richard Durkin, Director at Lambert Smith Hampton, said: “Following an all-encompassing marketing campaign which resulted in significant interest we were able to select a party in order to take the transaction forward which resulted in a positive outcome for our client.”
Strategically situated within a ‘prime logistics hub’, the site features three interconnected warehouses, two office suites, a large steel portal-framed canopy, and additional undeveloped land.
On the market for £6.5m, the property benefits from environmentally friendly initiatives like LED lighting and rainwater harvesting.
Lambert Smith Hampton acted on behalf of the Joint Administrators, Rajnesh Mittal and Nathan Jones of FRP Advisory say ‘significant interest’ was attracted during their targeted marketing campaign from a range of investors and owner occupiers.
The Knights of Old complex situated within Kettering Venture Park was sold to a US investor in a £7.9m deal this May.