Kingsbridge have successfully completed the sale of two key properties from its portfolio in October 2020.
The first sale was Parallel House, Bath Road, Slough for £6m to the London-based Theori Housing Management. Kingsbridge had previously successfully gained a change of use planning consent to convert the four-storey former office into 106 residential units. CBRE were the agency acting for the sale.
The second sale was completed at 40 North Street, Chichester. This Grade II* listed retail unit, currently let to Jack Wills and Handelsbanken, was sold to a local investor for £1.45m. Prior to the sale Kingsbridge had gained planning permission to convert the building from retail to office use. Flude Property Consultants acted as agents for the sale.
These recent sales are in line with Kingsbridge Estates’ growth strategy of investment in industrial developments. Chris Fry, Kingsbridge CEO, says, “both sales came after we successfully added value to the assets through planning consent. The capital raised from these sales will be reinvested to support our strategic programme of growth through the development of high quality industrial space across the South of England”.