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Key Property Investments sells Orpington site

Key Property Investments, the joint venture between St Modwen Properties PLC and Salhia Real Estate Co., has sold a prominent one acre site at Britannia Works, Orpington, Kent, to Denvale Trade Centres for £1.25 million.

Denvale Trade Centres has obtained planning consent to build 1,486 sq m (16,000 sq ft ) of trade centre accommodation and has pre-let the whole scheme to a leading trade operator.

Work on the development is to start imminently with a projected completion date in December.

Nick Doyle, of Key Property Investments, said: “The site’s prominence attracted Denvale Trade Centres to undertake this type of high value use development.”

Tim Bloomfield of Denvale Trade Centres said: “This deal shows there is still a market for a niche developer like us working in a specialised sector.”

Michael Rogers acted for KPI. Edwin Hill represented Denvale Trade Centres.

For further information contact Nick Doyle of Key Property Investments (020

7499 5666). Issued by Paul Raymer of Howle Chapman Raymer (0121-236-7771).