Clearbell Capital and joint venture partner Deva Capital have acquired two multi-let industrial assets for an undisclosed price.
Glynstell Park in Cardiff comprises eight units providing 101,000 sq ft and is currently let to four occupiers. The property was extensively refurbished in 2017 and presents an opportunity to drive further value through sustainability-focused asset management.
Glossop Brook Business Park provides 81,000 sq ft across 19 units and is currently occupied by 10 tenants. Situated in Glossop to the east of Manchester, the business park aligns with Clearbell’s strategy of acquiring industrial assets below replacement cost in supply-constrained markets. Clearbell intends to improve EPC ratings across the site to at least a B or higher.
Rob Cole, senior investment manager at Clearbell Capital, said: “These acquisitions are a strong addition to our logistics portfolio, reflecting our continued focus on well located, multi-let industrial assets that offer long-term potential. With scope for targeted sustainability improvements and alignment to modern occupier needs, both Cardiff and Glossop support our strategy of delivering future-ready space across regional markets.”
Clearbell was represented by Lewis Ellis on the Cardiff deal and Cortex Partners & Fletcher Morgan advised the vendor Ashfield Land. Index Real Estate advised Clearbell on the Glossop deal and Northcap acted for the vendor.
Julian Gallagher, partner at Lewis Ellis, said: “Glynstell Park represents a high quality industrial asset in a UK capital city. We’re pleased to have supported Clearbell on this acquisition, which offer clear opportunities to enhance building performance and meet the evolving priorities of the occupier market.”
Tom Homan, director at Index Real Estate, added: “Index Real Estate were pleased to advise Clearbell on this latest acquisition. Glossop Brook Business Park provides a modern industrial estate with strong fundamentals and excellent scope to drive performance through proactive asset management.”
