Global real estate advisor, Colliers International, has acted on behalf of The Milton Group on the £4.13 million disposal of the freehold interest in Bounty House, Rochester to the existing tenant, Cellecta Limited.
The 51,000 sq ft warehouse, located on Roman Way, Rochester was constructed in the 1980’s and offers a generously spaced service yard with substantial canopy and is located within close proximity to Junction 2 of the M2 motorway, providing direct access to the M25 London Orbital.
Major occupiers within the immediate area include Royal Mail, BOC and Clifford Floors. The property is also located close to Medway Valley Park, which comprises 10 units with occupiers including Greenham, Automotive Wheels Limited and Auguste Noel Limited.
Michael Kershaw, Director in Colliers International’s National Capital Markets team, commented: “Located within the ‘Thames Gateway’, Bounty House has excellent transport links throughout Kent, to London and also to the Channel Ports. The property, which was let for a further 9 years, secured interest from a wide range of potential buyers but ultimately the offer to purchase the freehold from the tenant proved compelling.”
To the south of the property is a major redevelopment site, known as Temple Wharf, which has outline planning to provide up to 620 residential units; up to 10,300 sq m of employment floor space; and up to 1,800 sq m of retail floor space. The scale of the redevelopment will benefit the local economy enormously and increase the overall attractiveness of the area.
Colliers International acted on behalf of vendors, The Milton Group.