Joint venture partners Clearbell Capital and Deva Capital have acquired two secondary industrial units from Headlam Group for an undisclosed price.
The assets, which total circa 140,000 sq ft, are located in Nottingham and Rochester.
In Bulwell, Nottingham, the joint venture partners have acquired the 83,000 sq ft Cheshire Building, which has been vacated by Headlam Group. The unit will be comprehensively refurbished to meet modern standards.
In Rochester, the 57,000 sq ft MCD House has been acquired on a sale and leaseback basis with Headlam occupying the facility until June next year. Once Headlam vacates the site, the building will be comprehensively refurbished.
Rob Cole, investment director at Clearbell Capital, said: “These assets have been on our radar for some time and we’re delighted to have secured them. Both properties benefit from strong underlying fundamentals with a clear scope for refurbishment and modernisation, which is at the core of Clearbell’s asset management plan. We continue to see robust occupier demand for well-located, fully refurbished industrial units. There remains a clear supply gap for high quality assets in key logistics corridors and these properties are well positioned to meet that demand.”
Lambert Smith Hampton represented Headlam Group. Clearbell Capital was represented by FHP Property Consultants and CBRE.
