Clearbell sells industrial asset for £6.8m
Clearbell Property Partners II LP (Clearbell), a fund managed by Clearbell Capital LLP, announces the sale of an industrial asset in Rotherham for £6.8m.
The asset in Rotherham, from Clearbell’s Polaris portfolio, has been sold for £6.8m to Navana Real Estate. The site is a 120,000 sq ft industrial warehouse, which is used by GD Media as a commercial printing facility. The tenant has leased the site since 2005.
The asset is located on the outskirts of Rotherham, in close proximity to the M1 and A1(M) with good links to both the North West and the North East regions.
The site was acquired in August 2015 as part of the Polaris portfolio, which is a collection of industrial assets located predominantly in the North of England. Clearbell acquired the portfolio to take advantage of the growing momentum in the industrial market, and to reposition and redevelop secondary assets to drive investor returns.
Dominic Moore, Head Asset Management and ESG Director at Clearbell Capital, said:
“This sale exemplifies the strength and resilience of the market for industrial assets, with investors keen to own assets used for manufacturing purposes.”
Clearbell was advised by CPP.