Nearly 100,000 Sq Ft let on Rugby site within a month of acquisition

Key Property Investments Ltd, the joint venture between St Modwen Properties PLC and Salhia Real Estate Co of Kuwait has let nearly 9,290 sq m (100,000 sq ft) of industrial space on short term contracts on a 20-acre Rugby estate recently acquired.

Pallet Network, a freight handling and distribution firm, has taken 5,035 sq m (54,206 sq ft) of accommodation on the 27,870 sq m (300,000 sq ft) Broughton Road Industrial Estate at an annual rent of £185,940.

Wavelength Handling & Distribution Services Ltd is renting a 4,108 sq m (44,218 sq ft) building at an annual rent of £121,600.

Peter Robbins of St Modwen, said: “Broughton Road is one of a number of major commercial sites acquired as part of a portfolio. We are very pleased to have made such a successful start in working on the assets. We are now re- branding the estates and strengthening the management presence.”

Lambert Smith Hampton acted for Key Property Investments.

For further information contact Peter Robbins of St Modwen on 0121-456-2800.

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