Kenmore - Offices Sale - Middlesborough, Cleveland Business Centre

Date: 02 Dec 2002

Kenmore has signalled its intention to expand its holdings in the north east of England with the purchase of Cleveland Business Centre (CBC) in Middlesborough for £1.725m showing an initial yield of 7.5%.

CBC occupies an excellent location adjacent to the new law courts in the town centre. The 31,000sqft office building will be run as a business centre offering short term, flexible leases.

John Kennedy, Chairman of the Kenmore group commented:

“The north east has always been a successful market for Kenmore and we are keen to expand our holdings in the area. The purchase of CBC shows we are willing to embrace new trends in the market to create strong returns and an element of diversification for ourselves and our joint venture partners.”

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