December 12, 2018
Salmon Harvester Properties (SHP) has submitted a planning application for the development of 45,000 sq ft of industrial space on its last remaining 2.7-acre site on Orbital Park in Ashford, Kent.
Known as Second Axiom, the scheme will provide 16 units ranging from 1,600 sq ft to 5,000 sq ft and will be available for occupation in Q4 2019. The scheme value will be in excess of £10 million.
SHP completed the 7-unit 55,000 sq ft first phase of Axiom earlier this year and attracted lettings to Howdens Joinery, Meggitt Safety, Forza Supplements, Specialised Roofline Supplies and Hire Station. The investment was sold in July of this year to clients of Columbia Threadneedle Investmentsfor £10.1M reflecting an initial yield of 4.9%.
Salmon Director, Pat Mahoney, said, “This proposed development will create much needed industrial accommodation for the space starved east Kent market while also creating numerous new jobs.”
SHP’s joint letting agents for the project are Altus Group and BNP Paribas Real Estate.