Telereal Trillium, one of the UK's largest property companies, owning and managing a £5.5bn portfolio, has strengthened its presence in Kent with the acquisition of a major industrial building on Manston Business Park in Thanet.
The company has purchased the building on Invicta Way, which is occupied by Cummins Power Generation, one of the largest designers, manufacturers and distributors of diesel engines in the world.
Cummins Ltd has been based at Manston Business Park since 1998 when it purchased a production unit, which is next to the acquired premises. It also has a further building used for storage, which is leased and connects to its freehold unit.
Strutt & Parker advised the vendors and Allsop advised Telereal Trillium on the deal.
Paul Munday, Associate Director at Telereal Trillium said: “The industrial unit on Manston Business Park offers high quality accommodation. The tenant is established in this location, being long-term occupiers on the Park and having recently been able to consolidate complementing operations close together, improving their business efficiencies.
“We are also acutely aware of the lack of supply for similar units of this size and quality within the region, and we anticipate that the asset will perform well for the business.”
The Thanet deal follows Telereal Trillium recent acquisition of the Wye3 site, part of the former Wye College Campus, in Wye, from Imperial College London.
The campus site, which ceased its academic activity in 2009 site, includes Ian Carruthers, Bexley House, Wolfson Lecture Theatre, and Wolfson House, but excludes Withersdane.
The 18 hectare site comprises a range of historic accommodation buildings, as well as laboratory and research buildings, various facilities, commercial buildings, and residential accommodation.
When the deal was announced, Graham Edwards, CEO at Telereal Trillium said: “Our acquisition of the Wye3 site is an ideal opportunity for our company as we are able to take a longer term perspective on development opportunities, more so than many other developers.
“We see this as a development opportunity to be realised over a 10-15 year time period, in close consultation with the Parish Council and local community.”
David Jarman, Planning Director of Hobbs Parker Property Consultants is leading on the planning strategy.
Telereal Trillium has invested more than £200m in acquisitions over the last couple of years.
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