UK property group Kenmore is teaming up with investor Revcap and communication company Ark Continuity in the development of a business and technology park in Wilthire, south east England. The partners have submitted a planning application to the North Wiltshire district council for a 650,000 sq ft (60,000 m2) park to be named Spring Park.
UK property group Kenmore is teaming up with investor Revcap and communication company Ark Continuity in the development of a business and technology park in Wilthire, south east England. The partners have submitted a planning application to the North Wiltshire district council for a 650,000 sq ft (60,000 m2) park to be named Spring Park.
Kenmore has taken a 25% stake in the joint venture and will assume the role of development manager. The parkwill offer Grade A office space and data centres distributed across a 30-acre site. In a statement, Kenmore said that the application follows the recent consent on the adjacent site by the Ministry of Defence for a £900 mln Private Finance Initiative (PFI) scheme.
'We are very excited about this development, which marks our entrance into the data centre sector', said development director Daniel Williams.
Kenmore is a co-investing, trading and development property and fund management group active in the UK, Europe and Middle East. Kenmore has £1.7 bn of investments and developments across the UK and in France, Holland, Germany, Belgium, Sweden, Norway and Finland. Since January 2006 Kenmore has been particularly active in Europe where it has seen its European portfolio grow from £227 mln to £880 mln.
