Clearbell lets 66,000 sq ft space in Kinning Park, Glasgow
Clearbell Capital today announces that it has let 66,000 sq ft of warehouse space at 211 Maclellan Street in Kinning Park, Glasgow, on behalf of a Fund it manages. The space has been let to BeeInspired Clothing, for a 5-year lease from July 2018.
Kinning Park forms part of the Fund’s mixed-use Amber portfolio, comprising 16 assets. The Amber portfolio is part of a UK-wide investment strategy and is split between the retail (53%), industrial (35%) and office (12%) sectors.
The Fund acquired the asset with plans to undertake complete refurbishment works to suit future potential tenants. The asset has been extensively refurbished both internally and externally, including improvements to the industrial warehouse itself, and also to the two-storey office within.
211 Maclellan Street boasts good transport links, located within easy reach of Glasgow City Centre, good links to the M74 and easy access to public buses and the underground.
Dominic Moore, Head of Asset Management and ESG Director at Clearbell said: “As part of our asset management plans at Kinning Park we have renovated the space to appeal to high-quality tenants. With the rise of online shopping and fast fashion, the need for higher capacity warehousing is increasing, with many retailers choosing to consolidate their logistics into larger facilities.”
The Fund has undertaken refurbishment and repositioning of a number of the Amber assets to ensure a diverse spread of lettings. Other assets in Amber include the newly refurbished Fothergill House, Nottingham, which was recently fully let.
Clearbell recently reported a letting of 390,000 sq ft of logistics space to Jack Wills Limited at Parkway Works in Sheffield, on behalf of the Fund’s Polaris portfolio. Jack Wills will use this space as its global distribution centre.