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DENTAL PRACTICE WITH HELICOPTER BUSINESS BUYS FIRST OFFICES AT PETRE COURT, ACCRINGTON

A family dental practice whose senior partner runs a helicopter hire business in his spare time, has bought the first of the six office suites Petre Court, alongside the M65 in Accrington, developed by Key Property Investments Ltd (KPI), the joint venture between St Modwen Properties PLC and Salhia Real Estate Co.

Petre Dental Practice, owned by Cromie and Associates, acquired the 3,358 sq ft offices for £470,120. They are one of the six ‘front door’ units within the office park of the 68,000 sq ft Petre Court development. The 30,000 sq ft office park has units ranging from 3,358 sq ft to 6,458 sq ft.

Colin Cromie is relocating the 20-year- old practice to Petre Court from the surrounding area and plans to incorporate an office for the helicopter business he operates at Blackpool.

Steven Knowles of St Modwen said: “We are delighted with the success of Petre Court which confirmed our view that this area was under-provided with good quality modern business premises available to purchase as well as to rent.”

The sale follows the successful disposal of the 38,000 sq ft industrial space in eight units on the four-acre site to a variety of owner occupiers.

Bailey Deakin Hamilton and Trevor Dawson acted for KPI.

Notes to Editors:

Petre Court is one of the premier industrial and office locations along the M65 corridor. It is only 30 seconds from Junction 7 of the M65 and adjacent to the 46-acre Junction 7 Business Park which KPI sold to GE Real Estate Partners Ltd for £25.1 million. KPI acquired the estate from Marconi in 2001.

St. Modwen Properties plc

St. Modwen is the UK’s leading regeneration specialist, operating across the full spectrum of the property industry through a network of seven regional offices and a Birmingham based head office. The company is wholly focussed upon regeneration with expertise in town centre regeneration, partnering industry, brownfield land renewal and heritage restoration.

For further information, please contact:

Charlotte McCarthy

PR Manager

St. Modwen Properties plc

Tel: 07970 949 914

Email: cmccarthy@stmodwen.co.uk

Steven Knowles

Development Surveyor

St. Modwen Properties plc

Tel: 01925 825950