US investor snaps up Knights of Old site

Private US-based conglomerate Cabot Properties has paid £7.9 million for the former Knights Of Old warehousing hub in Kettering, East Midlands.

By Liza Helps Property Editor Logistics Matters

THE PROPERTY comprising two freehold units at Kettering Venture Park at Junction 9 of the A14, total 118,337 ft2 and sit on an 8.1 acre site within the Golden Triangle.

They were sold by Watling Real Estate on behalf FRP Advisory, the administrator of Knights of Old which was appointed in September 2023 after parent company KNP Logistics Group entered administration.

KNP Logistics Group faced difficulties following a major LockBit ransomware attack in June last year which caused significant disruption. At the time joint administrator Ranesh Mittall said: “Against a backdrop of challenging market conditions and without being able to secure urgent investment due to the attack, the business was unable to continue.”

Cabot Properties, invests in and develops logistics sites in strategic locations across the globe.

Watling Real Estate associate Ben Holyhead, said: “We received considerable interest in the property from all segments of the market, including occupiers, investors and developers.”

The administrators were advised by law firm Gateley Legal and Mayer Brown and Savills acted for Cabot Properties.