Kenmore Capital, a joint venture between Kenmore Property Group and Bank of Scotland Corporate, has sold The Whittle Estate, Cambridge Road, Whetstone, Leicester, LE8 6LH, to Highcross for £25 million, representing an initial yield of 8.2%.

The Whittle Estate comprises a 668,427 sq ft (62,099 sq m) multi-let industrial estate and business park, with 10 acres of development land to the rear, located 5 miles from Leicester City Centre. The buildings are currently 92% occupied, following the successful renewal lease of 41,548 sq ft (3,860 sq m) to Birkart Globalistics at a rent of £140,000 per annum, earlier this year. Other recent deals of note at the park include lettings to Alstom Aerospace, Midlands Co-operative Society and Watling JCB, at a total combined rent of approximately £50,000 per annum.


Paul Jarvis, Kenmore's Director of Asset Management for the Midlands Region, comments: "There continues to be strong occupier demand in the East Midlands industrial and office sectors for well-priced, ideally located units, and this has been clearly demonstrated in the consistent rise of rents and lettings at the estate, over the previous two and a half years. We believe that this trend is set to continue."

Steward and Partners acted for Kenmore and Makins Moore represented Highcross.

(GK/JM)