Ashtenne Takes a Profit on Sittingbourne Research Park

LONDON-Industrial property specialist Ashtenne has sold the Sittingbourne research park in north Kent for pounds 19.75 million ($30 million). The company only bought the property 15 months ago for pounds 11.3 million ($17.6 million).

By Graham Parker | September 24, 2002 at 01:01 AM

Sittingbourne Research Centre has around 75 buildings on a 116-acre site catering for warehouse/light industrial, office, laboratory and horticulturaluses and includes land for further development.

Ashtenne acquired the property for £11.3 million ($17.6 million)in May 2001 when the annual rentalincome was about £1 million ($1.5 million) and since then a number ofthe buildings have been redeveloped.

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