Northern England, UK

Key Property Investments (KPI) is the UK-based joint venture company owned equally by Salhia and St Modwen Properties PLC.

Channel Way, Preston
31,100 m2 of industrial space acquired by KPI in 2002 and currently rented on a long-term lease.

Trafford Park, Manchester
KPI purchased this 10.1 hectare industrial estate in the northern part of Manchester in 2001. The property comprises several state-of-the-art high-bay warehouses incorporating the distribution operations of leading international brands such as L’Oréal, Kellogg’s, Fusion, and Associated British Foods.

One 33,500 m2 building on a 6.4 hectare plot incorporates warehousing and 1,900 m2 of office space currently under construction. The building was recently sold to the National Farmers’ Union Mutual Insurance Society, having earlier been pre-let to Adidas for a term of 15 years. Plans are currently being finalized for KPI’s redevelopment of other areas of the estate that will involve constructing further light industrial units (8,500 m2) and offices (6,650 m2).

Openshaw, Manchester
Acquired in 2002, at present this site contains 20,900 m2 of industrial and warehouse accommodation on 5.7 hectares of land. KPI intends to redevelop the property, to create a mixed-use complex that will include residential units and, at the southern end, a new retail scheme. Master plans are being prepared in conjunction with Manchester City Council and the retail development has already been awarded planning consent. The redevelopment is targeted for completion in 2012.

Petre Court, Accrington
KPI acquired the original 20 hectare property in Accrington in 2001. This was subsequently sold in May 2007 for £25.1 million, but a 1.62 hectare site on Petre Court was retained and redeveloped as a business park. This was completed in August 2007, including 2,788 m2 of offices and 3,625 m2 of light industrial units that are now available for lease or sale.