In a recession-defying move, Kier Property has completing the sale of its last unit at Crown Road, Enfield. Obsidian has purchased the unit, which it intends to use as a data centre, for £4.5m.

Kier speculatively built 79,790sq ft of warehouse space within its Trade City brand for a combined market value in excess of £10.4m.

The high specification scheme is split between three units ranging from 19,310sq ft to 38,827sq ft. Two of the units were sold on completion; one to Quality UK, a local clothing business, for £3.13m, and the other to Chris & Sons, a local hairdressing supply company, for £2.8m.

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Kier Development Surveyor George Dickens commented: "We are delighted with the sale of all three units at Trade City.

"This further demonstrates that despite what are challenging market conditions, our high quality product continues to attract high demand from reputable organisations seeking long-term business strategies. We are confident that if industrial warehouses are of good quality and in the right location, they will continue to sell at keen prices to reflect the lack of supply."

The sale at Enfield follows quickly on from Kier's development activity at Uxbridge where it is constructing a 33,000sq ft unit for AGS Removals. Further land is available on a design & build basis.

(CD/BMcC)