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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 | Updated on September 24, 2002

LONDON-Industrial property specialist Ashtenne Holdings has sold the Sittingbourne ResearchCentre, in Sittingbourne, Kent to clients of La Salle Investment Management for £19.75 million ($30 million). The property produces a net rental income of £1.8 million ($2.8 million) per annum.

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.

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