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The KPI portfolio continues to perform well and to benefit in revaluations under the rising market. The sale of “Washwood Heath” completed in January at over £24m and further sales activity throughout the year will result in a total sales of just over £40 million.
Contracts have recently been exchanged at over £24m on one of the largest assets in the portfolio, with completion set for January 2017, resulting in a good profit to the company.
– The sale of the Leicester Road, Rugby retail park, which completed in November, has resulted in a good profit. Further sales are programmed.
– Opening new multiscreen Vue Cinema in the heart of Farnborough town Centre.
– Salhia Real Estate Co. has completed the sale of Elephant & Castle with 50/50 joint venture company KPI for £80m in cash to Delancy and APG.
– Development and refurbishment at Farnborough town center, another significant property ownership in the portfolio
Continued advancement is being made on the mixed use town centre scheme at Farnborough, in particular , signing on a cinema operator.
KPI secured the necessary approvals to develop its property in Rugby, UK.
– KPI obtained planning consent to further develop Boughton, Leicester and Mills Road
– 18.48 Hectares of Petre Court (Accrington, UK) was sold.
– 1.62 Hectare of Petre Court was retained and developed as a business park
– Gained planning permission for Maxted Road (Hemel Hempstead, UK)
– Construction begins in Farnborough
– Trafford Park pre-sold and development commenced and completed.
Conditional planning consent was obtained by KPI for partial redevelopment of Queensmeed and Kingsmead Shopping Centre in Farnborough to create a major new mixed-use scheme on the site
The Malls (Basingstoke, UK) was purchased.
– Elephant and Castle (London, UK) was purchased.
– Purchase of Alstom portfolios including:
– Edge Lane, Openshaw (Manchester, UK)
– Vulcan Works (Newton-le-Willows, UK)
– Firth Road (Lincoln, UK)
– Ruston Works (Lincoln, UK)
– Lindum House (Lincoln, UK)
– Lichfield Road (Stafford, UK)
– St Leonard’s Road (Stafford, UK)
– Glover Street (Stafford, UK)
– Washwood Heath (Birmingham, UK)
– Stratford Road, Wolverton (Milton Keynes, UK)
– Campbell Road (Eastleigh, UK)
– Ashlawn House (Rugby, UK)
– Newbold Road (Rugby, UK)
– Boughton, Leicester and Mill Roads Industrial Estate (Rugby, UK)
– Channel Way (Preston, UK)
– St Rollox Depot (Glasgow, UK)
– Purchase of Marconi portfolios including:
– Trafford Park (Manchester, UK).
– Discovery Court (Poole, UK).
– Maxted Road (Hemel Hempstead, UK).
– Castle Works (Stafford, UK)
– Stonebridge Business Park, East Lancs (Liverpool, UK)
– The Hollies, Newport Road (Stafford, UK)
– Key Property Investments a UK limited company owned equally by Salhia and St Modwen Properties PLC was established.
– Queensmead and Kingsmead (Farnborough, UK) was acquired.