Leading commercial property consultancy Kirkby Diamond has successfully completed the sale of a high-quality retail investment at an upmarket marina development in Milton Keynes.
Kirkby Diamond – now part of Eddisons – was instructed by owner Crest Nicholson and completed the sale to an unnamed private investor for a sum in the region of £2.1 million, within six months of bringing it to market.
The freehold investment sits within a well-regarded residential development, and comprises ground and lower ground floor commercial units within two blocks. There are six commercial units within block one totalling 9,008 sq ft, and a further single unit in block two totalling 2,620 sq ft.
Kirkby Diamond agency surveyor Nick Bosworth said: “We are delighted to have completed the sale of the Newlands Retail Scheme, an outstanding investment opportunity in a wonderful location. It has been a pleasure working with our client Crest Nicholson to achieve an excellent result.”
Campbell Wharf is a vibrant canalside development just two miles from Milton Keynes city centre, located on the edge of the 114-acre, Grade II listed Campbell Park. In addition to energy efficient homes, shops and restaurants, the development includes thoughtfully designed public spaces that reflect its distinct waterside location. There are currently 368 homes on site, comprising apartments and houses, with a further 54 homes to be built.
Nick added: “The sale of the Campbell Wharf scheme further reflects the ongoing demand for well-priced, income-generating local retail investments that offer potential for value enhancement through active asset management.
“Kirkby Diamond has a track record of selling investments in the Milton Keynes area having also recently sold a retail investment in Bletchley this year for £3.4 million. These two sales within a short period of time underline Kirkby Diamond’s ability to offer strategic pricing advice, identify a suitable purchaser within a short timescale, and to manage the sale through to completion”.
Eddisons has expanded in the South East by acquiring Kirkby Diamond, adding 62 staff across five offices and £6.2m turnover, strengthening its agency, property management and land development services while extending its footprint across the M1 corridor.