Clearbell builds on UK-wide logistics portfolio with £36 million of acquisitions

26th February 2018

Clearbell Capital, the private real estate fund manager, has today announced that eight logistics assets have been acquired by a fund it manages.

The assets will form part of the Cara portfolio, a UK-wide portfolio dedicated to the logistics sector. The acquisitions bring the total assets in the Cara portfolio to 20.

Three assets were acquired from Helical for a total of £20m. These assets include Aspect Way in Doncaster (123,000 sq ft); Sandal Stones Road in Doncaster (153,000 sq ft) and Wyatt Way in Thetford (128,000 sq ft.)

Each of the assets is situated close to strong transport links and in recognised logistics hubs. Doncaster, in particular, has established a critical mass of large logistics occupiers in recent years.

In separate deals, Clearbell acquired an additional three assets in the North West and exchanged on a further two. Two assets are located in Warrington, with the remaining three assets located in Bromborough, Knowsley and Ellesmere Port.

The combined purchase price for the additional 5 assets was £16m which represented a blended Net Initial Yield of 8%.

Joseph Bridger, Clearbell said: “Our strategy for Cara is to build a portfolio of logistics and industrial assets across the UK. Our business plan is to work with our tenants and continue to invest capital into the portfolio to realise each asset’s full potential. These latest acquisitions will ensure diversity of income and location across the portfolio.”

Clearbell was advised by Christopher Dee and Bidwells. Commercial Property Partners acted for Helical. B8 Real Estate and Legal Owen acted for the vendors of the North West assets.

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