Hortons has sold three prime industrial assets at Saxon Park, Corby.
The three units, totalling more than 266,000 sq ft, were sold to LBA Logistics in a multimillion-pound transaction.
The units include Saxon 58, the Russell & Bromley logistics centre, together with Saxon 80 and Saxon 132, two newly created Grade A units of 79,928 sq ft and 131,536 sq ft, delivered through the redevelopment of a single vacant warehouse.
The sale is the latest milestone in Hortons’ transformation of the site, which has seen significant improvements made to the existing stock and the development of modern accommodation.
LBA Logistics is a US and UK-based investor focused on the acquisition and management of logistics and industrial properties.
Steve Benson, chief executive of Hortons, said: “Our ambition for this strategically located site was to unlock its full potential through redevelopment and reuse, creating opportunities for both future growth and employment.
“This transaction is key in that journey, ensuring the long-term future of Saxon Park. With its proven track record and expanding UK portfolio, we are confident that LBA Logistics will continue to build on the site’s success for years to come.”
DTRE and TDBRE acted on behalf of Hortons, while ACRE Real Estate represented LBA Logistics.
