September 18, 2013
Commercial property company Salmon Developments has bought 100,000 sq ft of industrial and warehouse buildings on Kimpton Industrial Park in Sutton, south west London.
Salmon has bought the long leaseholds of the properties at 38 Kimpton Road and 4 & 6 Wealdstone Road from private owner, Quadrant Ventures. Salmon paid an undisclosed sum for the four-acre site, which is near the A217 London Road.
Salmon is now preparing an asset management plan and considering a refurbishment and re-letting programme. The main occupier is set to leave in September 2014, and the remainder of the buildings are vacant. Current rent roll is approximately £500,000 a year.
The London Borough of Sutton remains the freeholder. Michael Le Gray & Co. advised Salmon.