A DHL depot in Kent has been bought by developers with a view to redevelopment as housing.
The sale-and-leaseback deal with St. Modwen sees the DHL Supply Chain depot change hands for £6.2m. DHL agreed to pay a rent of £511,000 a year on a 10-year lease.
The 10.5-acre site adjoins the mainline station in Barming, a well connected location with a direct route to London’s Victoria Station and south to Ashford.
The site has long-term potential for residential development and has been submitted as part of the Strategic Housing Land Availability Assessments for the Borough of Tonbridge and Malling’s emerging Local Plan.
Nick Kay, Development Director at St. Modwen added: “The site holds opportunities to add significant long-term value through
redevelopment, offering an excellent location with strong connections to Maidstone and the wider region.”
The site was introduced to St. Modwen by Ed Cornwell of BNP Paribas.