A commercial property investment group has splashed out nearly £30m on an industrial estate in Kent.

Orchard Street Investment Management bought Trinity Trading Estate, Sittingbourne, after being attracted by the town’s links to the M2 and M20 motorways, as well as the Port of Dover and Channel Tunnel.

The 27.8 acre site in the town centre, sold by US-based Cornerstone Real Estate Advisers, has 410,933 sq ft of lettable trading space.

Its 38 current tenants include Magnet, Howden Joinery, Wolseley, Travis Perkins and Screwfix.

The site was bought by Orchard Street for £29.25m on behalf of FTSE100 wealth management company St James’s Place.

Orchard Street investment transactions manager Tom Chadwick said: “This is a popular and well located trading estate which is reflected in its high occupancy and the quality of its tenants.

“The estate provides a strong income yield as well as a number of asset management opportunities which we look forward to undertaking.”

Darren Hutchinson, fund management director at Cornerstone, who bought the site in 2005, said: “The conclusion of this sale realises a healthy return for our client and demonstrates Cornerstone’s strong asset management track record in the sector over a long term hold period.”

Orchard Street was advised by Deloitte Real Estate. Strutt & Parker acted for Cornerstone Real Estate Advisers.