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Clearbell welcomes Curzon to historic Kodak building.
Clearbell Property Partners III LP (Clearbell), a fund managed by Clearbell Capital LLP, has entered a new lease agreement with multifaceted film company Curzon, for prime office space in the iconic Kodak Building in London’s Covent Garden.
Curzon, a prominent name in independent film exhibition and distribution, has moved to the seventh floor of The Kodak, occupying 6,941 sq ft. The relocation was driven by Curzon’s commitment to providing a more modern, dynamic environment for its team, enhancing both productivity and the overall workplace experience. The new office space offers a vibrant, contemporary setting that fosters creativity and aligns with the company’s vision for future growth.
Originally constructed in 1911 for photography brand Kodak, the Grade II listed building holds the distinction of being London’s first purpose-built, open-plan office block, complete with ancillary labs and photographic rooms. The building has recently undergone an extensive redevelopment and repositioning by Clearbell to bring new life into its historic shell, and now comprises of 70,000 sq ft of Grade A office accommodation set over eight stories.
Designed with wellbeing at its heart, the building features high-end commuter facilities including extensive bike racks, showers and lockers, increased access to natural light and a communal outdoor space on its expansive roof terrace.
Sustainability was a key focus of the redevelopment, exemplified through its achievement of an EPC rating of A, despite being Grade II listed, a BREEAM ‘Excellent’ rating and targeting a WELL Gold certification.
The Kodak Building stands as a symbol of London’s architectural legacy, meticulously restored to offer a blend of historical charm and contemporary sustainability and amenity, setting a new standard for office environments.
We are delighted to welcome Curzon to their new space. Their decision to relocate reflects the building’s appeal as a high-quality workspace in Central London. We look forward to seeing their continued growth and make the most of the unique environment created here.”
Alice Murray, Head of Asset Management & Sustainability at Clearbell Capital
Clearbell was represented by Farebrother and Knight Frank.
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Clearbell welcomes new dining experience to Coventry’s Belgrade Plaza.
Located in the heart of the city centre, the forthcoming Wing Kingz establishment will occupy 4,433 sq ft of retail space and is set to open its doors to patrons in Summer 2024.
Belgrade Plaza, a cornerstone of Coventry since its establishment in 2008, spans 129,500 sq ft and offers a blend of residential, leisure and retail facilities, including residential apartments, a 120-bed hotel, restaurant units, a retail unit and gym. Current occupiers include renowned brands such as Premier Inn, Pizza Express, Café Rouge and JD Gyms.
Beyond its commercial significance, Belgrade Plaza is a vital community hub, offering a range of amenities and events catering to locals, students and businesses. Notably, the recent ‘Easter Big Bunny Bake-Off Workshop’ held over Easter, provided children with an opportunity to showcase their baking talents during the holiday season. The event, which featured free workshops and a chance to win gift vouchers for Belgrade’s restaurants, received enthusiastic participation from the community.
We are excited to welcome Wing Kingz to Belgrade Plaza, enriching our dining scene with even greater variety. This addition reflects our commitment to continuously enhancing the overall experience for everyone who walks through the doors. With Wing Kingz joining us, we take another step forward in our journey to solidify Belgrade Plaza’s position as a premier destination for dining and entertainment.”
Toby Saul, Associate Director at Clearbell Capital
We were pleased to act for Clearbell in attracting Wing Kingz to Belgrade Plaza. They are a welcome addition to the tenant line up and will offer something unique for the residents of Coventry. A sports bar with wings, seems to me, to be a winning combination!”
Richard Jones, Director at Avison Young
We are delighted to become a part of the Belgrade Plaza community. Our unique menu offers a wide range of flavourful, premium wings and other American-inspired dishes that we believe will resonate with the diverse tastes of Coventry’s residents and visitors. We can’t wait to open our doors and provide an exciting new dining experience for everyone to enjoy.”
Josh Sandher, Director at Wing Kingz
Clearbell was advised by Richard Jones, Director at Avison Young, while Rupert Long, Partner at BKL Property acted for Wing Kingz.
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Durham’s Riverwalk welcomes a taste of Thailand with new letting.
The award-winning Thai street food chain is set to open its seventh branch this September, having agreed a 15-year lease at the Riverwalk, a mixed-use development at the heart of Durham city centre.
Overlooking the River Wear and with impressive views of Durham’s historic cathedral and castle, the Riverwalk is home to both retail and leisure occupiers, along with 253 units of student accommodation. Clearbell purchased the 250,000 sq ft centre in 2014.
Zaap Thai will occupy a 3,500 sq ft unit, and will join a number of well-known restaurants, including Cosy Club, El Pincho tapas bar, TGI Fridays and Turtle Bay.
The restaurant group currently has branches across locations in Leeds, Sheffield, Nottingham, Newcastle and York, and has plans to open two additional major locations in the next 12 months. Zaap’s menu boasts over 100 authentic dishes, offering eat-in and take-away options, and with colourful décor to transport its guests to the lively streets of Bangkok.
The newest Zaap branch will feature the group’s trademark open kitchen, tuk tuk seating booths, neon lighting and unique graffiti.
Zaap Thai will be a fantastic addition to the variety of great food, drink and leisure operators that already call the Riverwalk their home, with Zaap’s accessible but high-quality offering providing the perfect blend for the Riverwalk’s customers. Providing new and exciting retail and leisure options for our customers is part of our active management programme to ensure that we’re always evolving to their needs, but also supporting the long-term success of The Riverwalk. We’re looking forward to the venue opening in September and bringing an authentic Thai experience to Durham’s residents and visitors.”
Toby Saul, Associate Director at Clearbell Capital
It was a great experience working with associates at Clearbell, Francis & Co and Pudney Shuttleworth to secure this new location for Zaap at the Riverwalk. With its rich history and diverse population, Durham is an ideal fit for our newest location. The restaurant is now set to undergo significant renovations to prepare for the September opening. It’s likely that the extensive menu will mean a completely new and exciting dining experience for our guests.”
Christopher Hammond, Operations Director at Zaap Thai
Zaap Thai is part of the Sukho Group, founded by chef and restauranteur Yupha ‘Ban’ Kaewkraikhot in 2002. The group currently operates nine restaurants, including the Zaap Thai chain and fine-dining brand Sukhothai.
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Clearbell expands industrial portfolio with Wolverhampton acquisition.
Clearbell Property Partners IV LP (Clearbell), managed by private equity real estate fund management and advisory business Clearbell Capital LLP, has completed the acquisition of a new industrial asset in Wolverhampton for £7.725 million, £79psf cap val. This purchase expands Clearbell’s logistics portfolio increasing the number of assets from six to seven.
Parkside, Wolverhampton consists of eleven units, let to 4 tenants and is 94% occupied. This acquisition aligns with Clearbell’s strategic focus on securing industrial assets below replacement cost as well as offering significant reversionary potential to enhance rental values.
As part of comprehensive upgrade plans for the Wolverhampton site, Clearbell will reroof some units, install photovoltaic (PV) panels, expand yard areas, upgrade signage and improve the general appearance of the estate. Sustainability will be a key focus throughout, with all EPCs improved to an EPC B or better enhancing the site’s environmental performance. The vacant unit will receive a minor refurbishment before being relet.
The Wolverhampton acquisition is an excellent addition to our logistics platform, aligning with our strategy of purchasing industrial properties with significant reversion and below replacement cost.
The compelling opportunity here is to enhance rental values, improve the EPCs to an institutional standard and upgrade the estate’s overall appearance and functionality. We are excited to add Wolverhampton and continue to search for new opportunities for the portfolio”
Rob Cole, Senior Investment Manager at Clearbell Capital
Clearbell was represented by MK2 on the acquisition.
The industrial property market is buoyant in the West Midlands, particularly for good quality multi let estates in Wolverhampton and the surrounding areas due to its central location and rich history in manufacturing and engineering. As such, it is attracting both occupiers and investors.
“Parkside Industrial Estate presented a strong case for investment, with potential rental growth and asset management opportunities.”
Mark Rooke, director in MK2 Real Estate’s investment team
Oliver Forster, senior director in CBRE’s investment properties team, advised the vendor. He said:
The sale of Parkside, following a competitive process, demonstrates the continued investor demand for multi-let industrial opportunities in established locations.”
Oliver Forster, senior director in CBRE’s investment properties team (advisory to the vendor)
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Maidstone’s LOC8 phase one fully let as second phase pre-lets gather momentum.
Nivek Catering Supplies, an independent distributor of catering supplies across the South East, has now committed to joining LOC8 phase two, taking on 20,501 sq ft.
They will join Huws Gray, the UK’s largest independent builders’ merchant, and healthcare furniture supplier Ocura Healthcare. The two businesses signed agreement for leases this year, securing 24,951 sq ft and 31,216 sq ft units respectively.
Clearbell broke ground on the second phase of LOC8 earlier this year in what will be the next step towards realising the site’s full potential and generate up to 1,200 new jobs. LOC8’s phase 2 will see 185,200 sq ft of space developed across seven units, with completion scheduled for September 2024. The new units will take the development to more than 435,000 sq ft. Following the latest pre-lets, three units remain available, ranging in size from 25,601 – 36,398 sq ft.
Located in the heart of Kent, at Junction 8 of the M20 in Maidstone, LOC8 has been developed to a high sustainability specification, with extensive solar panels and EV charging points throughout. With phase one achieving a BREEAM “Very Good” rating and EPC ratings of A and A+, the second phase has taken the additional step of targeting a BREEAM “Excellent” rating. As part of this, all the new units have been designed to be gas-free, running only on electricity. Much of that electricity will also be provided by the solar panels installed on the units, providing cost savings of circa £135,000 per annum to occupiers.
The site also provides for a biodiversity net gain of 10% with 12 acres of new wildlife habitat, including nearly 12,000 new trees and four wildlife ponds.
We developed LOC8 to the highest standard with our prospective occupiers’ requirements as our priority. Fully letting LOC8’s first phase and securing 50% pre-lets at the second is testament to the sustained demand for sustainable industrial and logistics sites in the region. We’re excited to be working with our new tenants, Nivek Catering Supplies, Ocura Healthcare and Huws Gray, amongst many others, to provide them with great spaces to continue their growth in the region.”
Toby Saul, Associate Director at Clearbell Capital
We are really looking forward to opening our new facilities later this year. This marks a significant milestone for Ocura Healthcare Furniture, providing a modern and sustainable environment for our dedicated team. Our new building will enable us to increase our production capacity, improve our logistics, and enhance our ability to serve our valued customers with even greater efficiency.”
Murray Smith, Sales & Marketing Director at Ocura
After significant post-pandemic growth, we are excited to be relocating our business just 9 miles away to the modern, state-of-the-art facilities at LOC8.”
Richard Barrett, Managing Director at Nivek
This move secures our future growth plans, creates an improved environment for our staff, and enables us to continue to offer award winning customer service for years to come.”
Kevin Slater, Chairman at Nivek
Phase one of LOC8 comprises 245,000 sq ft of space across 11 warehouse units, ranging in size from 5,000 to 60,000 sq ft.
LOC8 benefits from links to the key trade hubs of the Thames and Channel Ports and Eurotunnel, as well as access to the South East’s large, skilled labour pool. The site is also connected to the nearby Maidstone town centre by a new electric bus service and cycle lane, created to reduce car usage in the area.
Clearbell purchased the site in 2019 as part of its existing portfolio of multi let industrial developments.
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Clearbell welcomes global occupier to newly refurbished Nottingham city centre office.
Located in the heart of the city centre, the office, totalling over 14,600 sq ft across five floors, has seen its communal areas transformed with new feature walls, floor coverings, lighting and external works.
As part of the project, the c. 3,000 sq ft third floor suite was also completely refurbished to a CAT A standard and steps taken to improve energy efficiency, including the introduction of LED lighting and electric heating throughout resulting in an EPC B rating.
Dovetailing with the refurbishment, the floor has been let to Metric Search on a five-year agreement. The speciality search recruitment business, founded in New York in 2019, works across the life sciences, MedTech, infrastructure and engineering sectors from its offices across the US and UK.
Other occupiers at the property include wealth management platform, FNZ UK third-party capital advisors, and ALM.
Maid Marian Way is one of the main thoroughfares of Nottingham and is ideally located within walking distance of the central Market Square and close to all major transport routes, including the tram, bus and road access out of the city centre.
Our refurbishment project at Maid Marian Way has completely transformed the property and the experience of our customers there, which is the driving force behind our active asset management programme across our portfolio. And, it has supported us in welcoming Metric Search to the building’s community; a fast-growing and ambitious business who we have no doubt will thrive in this new space. We look forward to working with them over the coming months on this next phase of their journey.”
Rhys Jones, Asset Manager at Clearbell Capital
Although we have offices all over the world, Nottingham is our home, so we needed an office that reflected the importance of this location to us. Having the opportunity to move into a newly refurbished building, that is also in such close proximity to the city centre, meant that Maid Marian Way was an obvious choice for us. We are looking forward to moving in in the next few weeks and starting the next chapter of our journey in the city.”
Zac Flint, Finance Director at Metric Search
Clearbell Capital was supported on the refurbishment by Reynolds Associate and Interiora Projects, while FHP advised on the letting to Metric Search.
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Clearbell and The Riverwalk commit £10,000 to support fight against poverty in County Durham.
The donation will be matched by County Durham Community Foundation and will be committed to fighting poverty and enriching lives in County Durham all year round.
Poverty is a harsh reality for more and more families and individuals in County Durham. The impact of poverty is felt across all aspects of life – limiting the hopes, opportunities, and potential of thousands across the county.
The County Durham Community Foundation Poverty Hurts Appeal brings businesses and communities together to alleviate poverty across the country. In the last year alone, the Poverty Hurts Appeal has helped an estimated 34,650 children and adults facing hardship by awarding £618,594 in grants to small but vital charities at the heart of helping local communities.
The donation follows another successful year for the Lumiere Festival, installations for which were hosted at The Riverwalk. The festival brings art and culture to all and the pledged support for Poverty Hurts will see Lumiere’s legacy continue to enrich lives throughout the year.
At the heart of Clearbell’s mission is an ambition to better engage with communities in the locations we operate in, and ultimately drive long-lasting social value for them. The work that Poverty Hurts do is vital in supporting some of the most vulnerable members of the community around The Riverwalk, and so we’re very proud to be able to support them in their cause, and to be part of Lumiere, an event that continues to go from strength to strength and increase footfall for our occupiers”.
Toby Saul, Associate Director at Clearbell Capital LLP
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Chophouse Blacklock to debut in Manchester as Clearbell announces first letting at Freetrade.
Blacklock, a London-based chophouse, will open its first branch outside of the capital having agreed a lease for the lower ground floor of Freetrade in the heart of Manchester city centre.
Inspired by the traditional London Chophouse, which was established in the seventeenth century, Blacklock serves the very best British produce with a focus on affordability and quality.
Centrally located close to the Town Hall and St Peter’s Square, the 36,000 sq ft Freetrade has undergone a significant period of refurbishment that has not only modernised the building, but also focused on increasing its sustainability credentials in keeping with Clearbell’s commitment to delivering high environmental and social value.
The Grade II listed building underwent extensive retrofitting to achieve an EPC A rating, with the five floors of contemporary workspace now heated by air source heat pumps, renewable energy sources and benefiting from rooftop solar panels. The reception area is also home to a living wall, enhancing air quality and customer wellbeing.
Office tenants will also have access to a wealth of amenities focused on encouraging wellbeing, including a roof terrace, gym, yoga studio, sauna and bike storage.
Blacklock, which has B Corp status and is a Best Companies Top 100 Employer is due to open its doors in September 2024.
Blacklock is an ideal first occupier at Freetrade settling in amongst some of Manchester’s most popular hotels, bars and eateries. We have no doubt that it will be able to replicate the huge success it has seen in London in its first venture outside of the capital, and we are really pleased that they have chosen Freetrade to do so. Our redevelopment of Freetrade has been an incredibly rewarding project, injecting new life into a heritage building, maintaining its Victorian features while also bringing it into the 21st century by incorporating best-in-class wellbeing and sustainability credentials. Given Blacklock’s own impressive ESG values, they are a fitting partner for us as we give Freetrade a new, greener future.”
Alex Alban-Moore, Associate Director at Clearbell Capital
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Clearbell completes lab space transformation of former office building.
The building, owned by Clearbell Property Partners III LP (Clearbell) — a fund managed by Clearbell Capital LLP — sits at the heart of London’s Knowledge Quarter which is home to over 100 academic, research and scientific institutions.
The building’s repurposing as a wet and dry laboratory-enabled space comes in response to a growing need from the capital’s life sciences firms for greater access to high-quality lab space. The new configuration, flue and M&E at 85 Gray’s Inn Road has been designed to accommodate a range of flexible and bespoke fit out options, ensuring compatibility for a wide array of life science functions and R&D specialisms. All available workspace in the building can be utilised as laboratories, with prospective tenants able to conduct their own fit out, or work with Clearbell and lab fit out specialists for a bespoke space.
Alongside class-leading lab space, tenants will have access to new shower and changing facilities, reception concierge services, cycle storage and a 1,100 sq ft landscaped roof terrace with panoramic views of London. The site is also ideally situated with both King’s Cross St Pancras and Farringdon stations nearby, providing connections across London, the UK and Europe.
As part of Clearbell’s commitment to placing environmental responsibility at the heart of its developments, 85 Gray’s Inn Road has been developed as such that it is expected to achieve a ‘Excellent’ BREEAM rating and has achieved an EPC B.
Toby Saul, Associate Director at Clearbell Capital LLP said:
“The life sciences sector is a major asset for UK plc and there remains a widespread shortage of specialist space within London.
Quality lab space is essential for our most innovative businesses to scale, conduct world-leading R&D and attract talent. This is why we’re so excited by the incredible potential that our transformation of 85 Gray’s Inn Road represents for prospective occupiers.
“London’s Knowledge Quarter is an exciting place to be and undoubtedly one of the most important hubs for UK life sciences. It’s a prime location for both growing and established firms to find new opportunities for development and collaboration. We’re looking forward to providing a new home to some of those businesses at 85 Gray’s Inn Road.”
85 Gray’s Inn Road is located close to a number of renowned life science institutions, including the Francis Crick biomedical research institute, University College London, the Wellcome Trust headquarters, and Great Ormond Street hospital. The life sciences community in the area is set to grow in the coming months and years, with the opening of the Dementia Research Institute due in 2024.
Letting opportunities are being managed by Creative Places and Knight Frank.
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Construction begins on Phase Two of Maidstone’s LOC8 Commercial Park.
Strategically located at Junction 8 of the M20, LOC8 represents a significant £47million investment into the local area and has the potential to generate up to 1,200 new jobs. Phase two will realise the site’s full potential and see 185,200 sq ft of space developed across seven units, with completion targeted for Q3 2024.
The development’s first phase was completed in May 2023 and comprised 245,000 sq ft of light industrial and logistics space across 11 units, ranging in size from 5,000 to 60,000 sq ft. Currently, just one unit remains available to let with occupiers including Zehnder, Hitachi Construction, UK Greentech (Part of Edmundson Electrical Ltd) and AT&T all having taken up occupancy at the site already.
LOC8, comprised of prime commercial and logistics spaces, sits in the heart of Kent, immediately adjacent to Junction 8 of the M20 providing links to the key trade hubs of the Thames and Channel Ports and Eurotunnel as well as access to the South East’s large, skilled labour pool.
“There is an evident need for quality commercial and logistics space in the South East with significant shortages hampering businesses and stifling growth. As a key economic hub with significant, long-term growth potential, it’s important that developers continue to focus on delivering high quality commercial and logistics space for the region. LOC8 does just this, providing an ideal location for businesses and industry to attract the right talent and access global markets.
The start of the next phase of works marks an exciting milestone towards completing a project that we set out to deliver when initial works started in 2022 and will support us in our vision to provide more opportunities and returns for our investors and jobs for the local economy.”
Toby Saul, Associate Director at Clearbell Capital
LOC8’s second phase will be developed to a high sustainability specification, with extensive solar panels and EV charging points throughout. The buildings are targeting a BREEAM “Excellent” rating and EPC A & A+. The site also provides for a biodiversity net gain of 10% with 12 acres of new wildlife habitat, including nearly 12,000 new trees and four wildlife ponds.
A new electric bus service to Maidstone town centre and cycle lane have also been created as part of wider efforts to reduce car usage.
Clearbell purchased the site in 2019 as part of its existing portfolio of multi-let industrial developments, to meet increasing demand for industrial and logistics assets, including from multinational corporations, manufacturers and logistics operators. Clearbell was advised by CBRE and Caxtons.