US investor buys Kettering's Knights of Old warehouse hub in £7.9m deal

The former Knights of Old warehouse hub in Kettering has been sold to a US investor in a £7.9m deal.

Cabot Properties, a private conglomerate which invests in and develops logistics sites across the globe, has bought the site at Kettering Venture Park.

Haulage company Knights of Old, part of KNP Logistics Group, ran into financial difficulties last year and hundreds of jobs were lost after it went into administration. A cyber attack was blamed for its financial woes.

Watling Real Estate secured the sale of the two units, totalling 118,337 sq ft just off the A14, on behalf of Rajnesh Mittal and Philip Armstrong of FRP Advisory, who were appointed as administrators of Knights of Old Ltd in September 2023.

The site attracted interest from a high concentration of retailers, distribution and third-party logistics companies.

Ben Holyhead, an associate in the Birmingham office of Watling Real Estate, said: “We received considerable interest in the property from all segments of the market, including occupiers, investors and developers. The property’s strategic location and excellent distribution specification made it an attractive proposition.

“We are pleased to have secured a strong price for the property for the benefit of the administration.”