Clearbell agrees two industrial lettings totalling 555,000 sq ft in Cumbria and Lancashire
Clearbell Property Partners II LP (Clearbell), a fund managed by Clearbell Capital LLP, announces the letting of sites in its Polaris portfolio to Silentnight and Tempur-Sealy in Barnoldswick and Aspatria respectively.
Silentnight has signed a new 20-year lease at Barnoldswick, a 350,000 sq ft site in Lancashire. Silentnight is the largest UK manufacturer of beds and mattresses and will continue to use the site as a sales and logistics outlet, as it has done since the company was founded in 1949.
Having previously occupied the second site at Aspatria, Silentnight has agreed, together with Clearbell, for Tempur-Sealy to take over the second 205,000 sq ft space in Cumbria on a new 10-year lease.
Clearbell acquired the Polaris portfolio in August 2015, with plans to reposition vacant assets, let remaining space and extend lease lengths.
Dominic Moore, Head of ESG and Asset Management at Clearbell Capital, said:
“We continue to see a strong demand for logistics space in well-located hubs across the UK. At the same time suitable and affordable space in areas that benefit from being close to transport links is in short supply. We are therefore pleased to have agreed a new long-term solution with our existing tenant Silentnight to continue operating from their historic Barnoldswick home and welcome Tempur-Sealy to Aspatria.”