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Kent Science Park in Sittingbourne sold to US firm Angelo Gordon and Trinity Investment Management after going on sale for £95m
15:00, 12 January 2016
updated: 14:33, 15 October 2019
Kent Science Park, a business estate for technology companies, has been sold to a US private equity company, just days after it was put on the market for £95 million.
Angelo Gordon, which manages about £18.7 billion of personal fortunes, bought the site in Sittingbourne in a joint venture with UK property company Trinity Investment Management.
The site was put on the market in early December along with four other science parks owned by Mars Pension Fund under the advice of global real estate manager LaSalle Investment Management.
Contracts for the high-security Kent Science Park – which employs more than 1,650 people – were exchanged on December 15.
It is home to more than 60 companies located in 515,000sq ft of labs and office space, including firms like GW Pharma and Novartis.
It is unclear whether the new owners want to pursue a 20-year masterplan revealed for the site in July, which would build 300-400 flats, create 4,150 jobs in new commercial space and feature new facilities for Sittingbourne Football Club.
Site director James Speck, who retires at the end of next month, said: “The plans are in good shape. Any prospective new owner has a great deal to play with.
“The proposals are yet to be validated but it is a sound plan.”
Mr Speck said it was a “good question” whether the science park’s new owners would put the masterplan into action.
He added: “I believe there is huge potential for these plans to go ahead.”
LaSalle Investment Management invested £37 million in Kent Science Park’s buildings and infrastructure since 2002.
The number of people it employs has grown from 900 people in 2008 to more than 1,650 today.
Although it is billed as a science park, about 40% of firms based there are not in the research or technology sectors.
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