Salmon Harvester Properties (SHP) has been granted planning permission for a new industrial/warehouse development at Orbital Park in Ashford, Kent.
The 43,000 sq ft scheme comprising 15 units of varying sizes will appeal to trade counter operators as well as more traditional industrial occupiers.
With rents in Ashford now exceeding £10 per sq ft, the investment value of the development when completed is anticipated to be close to £10M.
Having sold its adjacent completed Axiom development in July 2018 to Columbia Threadneedle Investments at a sub-5% initial yield, SHP is now preparing to sell the 2.7-acre development site and is quoting offers in excess of £1.6 million.
SHP’s Pat Mahoney said: “We are delighted to have secured the permission. This is SHP’s last remaining land from an original 20-acre holding at Orbital Park, in a vibrant commercial area with easy accessibility to be further augmented shortly on completion of the new Junction 10A of the M20 currently under construction.”
SHP’s agents are Altus Group and BNP Paribas Real Estate.