A NEW English property venture has paid £9.35 million to buy Kilroot Business Park in Co Antrim.
The 60-acre site on the outskirts of Carrickfergus has been acquired by CPG Wallop, a joint venture formed in October between Wallop Estates and Consolidated Property Group.
Described as the north’s largest unbroken single ownership industrial estate, tenants include Amazon, Fedex and Ryobi.
The business park is also next to Kilroot Power Station, now owned by EPUKI, the UK arm of the Czech energy group EPH (Energetický a Prumyslový Holding).
In July the group announced a £600 million proposal to transform the coal-fired power station into a new low-carbon energy park.
Kilroot Business Park includes 750,000 square foot of accommodation ranging from distribution, light industrial, manufacturing, residential, leisure, offices, self-storage, TV and film and caravan storage. The scheme also comprises two development sites of 7.5 acres and 6.6 acres.
One of the key figures in CPG Wallop is Oliver Wallop, also styled as Viscount Lymington,
He said the quality of tenants, low rents per sq ft and the high yield were key factors in the decision to invest.
“There are also numerous potential asset management initiatives including letting of vacant space, lease re-gears, design and build development potential and a rolling refurbishment and reconfiguration programme,” he said.
Co-director Sally Turner added: “We look forward to working with regional and local stakeholders in helping businesses of all sizes start, grow, and realise their ambitions. We also have the ability at Kilroot to support the continued success of Northern Ireland’s film industry and look forward to expanding this use on the park.”
Millar McCall Wylie were among the firms involved in negotiating the deal, alongside Belfast property agents McConnells.
Simon Fleming from Millar McCall Wylie, said: “The acquisition is a clear vote of confidence in Northern Ireland in the post Brexit era, cementing the location of major tenants based within the Business Park such as Amazon, Fedex and Ryobi – as well as supporting the growth of the local TV and film industry. There is undoubtedly scope for future development within the site also.”
