Clearbell Capital agrees sale of industrial units at LOC8 Maidstone to Aberdeen for £43.89m.

Clearbell Property Partners III LLP (Clearbell), a fund managed by private equity real estate fund management and advisory business Clearbell Capital LLP, has agreed a deal to sell four industrial units (B1-B4) at LOC8, Maidstone, to leading global investment company Aberdeen.

The sale, which completed at £43.89 million, reflects a net initial yield of 4.84% and a capital value of £230 per square foot. The transaction demonstrates continued institutional demand for best-in-class industrial and logistics assets that combine strategic location, high-quality specification and strong ESG performance.

The four units, totalling 190,839 sq ft, are home to a diverse mix of national occupiers including Zehnder Group UK Limited, Envirotainer Limited and Medequip Assistive Technology Limited. All units have been built to BREEAM “Excellent” standard and have secured EPC A+ ratings. The units also feature sustainable infrastructure including solar PVs, EV charging points and gas-free design.

Located directly off Junction 8 of the M20, LOC8 offers immediate access to one of the UK’s most vital logistics corridors, providing direct connectivity to London, the M25, and the Channel Tunnel and ferry ports at Folkestone and Dover. This strategic positioning has driven exceptional leasing activity across the wider development, with strong demand from both regional and national businesses.

The sale reflects the successful delivery of Clearbell’s business plan for this phase of the estate, following the strategic pre-letting of three of the four units prior to practical completion in December 2024 and the subsequent letting of the final unit to Medequip in mid-2025 at £14.00 per square foot. Following the sale of these four units, Clearbell will continue to retain ownership of the rest of the scheme and overall responsibility for future development of the site’s remaining plots.

This transaction demonstrates the quality of what we’ve delivered at LOC8 – a sustainable, strategically located development with a strong and varied tenant base. We’re pleased to have executed our business plan for units B1-B4 and to welcome Aberdeen to LOC8. Their approach to long-term asset management and focus on sustainable, occupier-focused investment mirrors our own strategy, which is particularly important as we’ll both be managing different parts of the estate. This alignment will support the continued success of the park and the diverse businesses that call it home.

“The park continues to attract exceptional demand, and we remain committed to supporting the growth of businesses across the remaining phases of the development.”

Toby Saul, Director at Clearbell Capital

“The sale generated strong investor interest at a time when there were very few core, multi-let logistics assets available to acquire.  The property proved attractive due its connectivity, strong ESG credentials and reversionary rents resulting from a strong performance in the North Kent occupational market through the last 24 months. It was great to work with Clearbell, Aberdeen and SBY.”

Nick Ogden, Partner at Newmark

The sale follows strong leasing momentum across the wider LOC8 development. Phase one achieved 91% pre-letting, while phase two is now 75% let or under offer. Only two units remain available, with strong interest in both.

LOC8 benefits from a population of 700,000 within a 30-minute drive and 3 million within an hour’s drive, providing occupiers with access to a large, skilled labour pool. The development features over 3,000 solar panels across the estate, 28,000 newly planted trees, and the UK’s first on-site HGV EV charging station.

Clearbell was advised by Newmark. Aberdeen was advised by SBY.

Clearbell welcomes three new tenants to historic Kodak building.

Clearbell Property Partners III LP (Clearbell), a fund managed by Clearbell Capital LLP, has confirmed three new lettings at the iconic Kodak Building on London’s Kingsway, marking significant leasing progress following the building’s extensive 2024 refurbishment.

IAB UK, a not-for-profit company representing hundreds of digital advertising businesses, has secured 2,761 sq ft of prime space under a 10-year lease term. The company, which helps its members to tackle industry problems and pursue growth through digital advertising, relocated to Kodak from another Covent Garden workspace, representing a step to take advantage of a more sustainable space.

JAA (John Ayling & Associates), an independent media agency that was founded in 1978, has taken 8,144 sq ft on the sixth floor. This is under a 10-year lease term, including a fifth-year tenant break option.

The new arrivals strengthen the emergence of a central London hub for digital media and advertising businesses within the Kodak Building’s diverse tenant mix. IAB UK and JAA join existing tenants Curzon, PubMatic and Reddit. 

Office staff will now also be close to high-quality Japanese dining concept Omusubi, which has taken 1,856 sq ft of ground floor space, enriching the building’s ground floor retail and dining options and reflecting Clearbell’s focus on curating a tenant mix that enhances the overall building experience.

Originally built in 1911 as the UK HQ of iconic photography pioneers, 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. In 2024, the building underwent an extensive redevelopment and repositioning by Clearbell to bring new life into its historic shell. It now comprises 70,000 sq ft of Grade A office accommodation set over eight stories.

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 a WELL Gold certification.

Customers will also benefit from several well-being focussed amenities such as bike racks, showers and lockers, increased access to natural light and communal outdoor space on the building’s expansive roof terrace. 

There is now just 17,187 sq ft of space across two floors available to rent at Kodak.

These lettings show the value of our investment approach. We acquired the Kodak Building when it was substantially vacant, invested in a comprehensive refurbishment with sustainability at its core and have carefully curated a complementary tenant community.

IAB UK and JAA join our growing cluster of media and digital advertising expertise alongside Reddit and PubMatic, while Omusubi enhances the building’s offering for all our office occupiers. It’s the same asset management approach we’re applying across our portfolio.

The Kodak Building’s success demonstrates that you can honour London’s architectural heritage while delivering the modern, sustainable workplaces that tenants want.”

Ben Tolhurst, Asset Management Director

This relocation represents a natural progression for JAA. We’ve always punched above our weight and our new, open and dynamic space will further fuel creativity, collaboration and innovation. The Kodak building reflects our ethos of continuous growth and trusted experience; blending old and new. It’s a space that matches the energy, talent and ambition defining the agency for today and the future.”

Richard Temple, CEO of JAA

Clearbell was represented by Knight Frank and Farebrother.

Clearbell & Deva acquire three more logisitics assets.

Clearbell Property Partners IV LP (Clearbell), a fund managed by private equity real estate fund management and advisory business Clearbell Capital LLP, alongside its joint venture partner Deva Capital, the real estate and corporate capital solutions investment arm of Santander Alternative Investments, has acquired three further strategic industrial and logistics assets equalling 150,000 sq ft across the Midlands and South of England.

The sites are located in Maidenhead, Cannock and Swindon and have been purchased from an institutional investor. This follows four acquisitions announced last month, bringing the joint venture’s total 2025 investment to 800k sq ft over eight individual transactions.

In Maidenhead, the joint venture has acquired six industrial units at Cordwallis Industrial Estate (28,741 sq ft) which are currently let to four businesses with two units vacant. With half of the space coming up for renewal over the next two and a half years, the site offers strong potential for repositioning and income growth. Planned ESG improvements include reroofing and heating related upgrades.

At The Orbital Centre in Cannock, the newly purchased units 5A-5B (54,341 sq ft) have a lease event in early 2026, presenting a prime opportunity for repositioning.

Finally in Swindon, the joint venture has acquired a modern warehouse and office facility at Athena Avenue, Elgin Industrial Estate (67,391 sq ft). The site currently serves as UK headquarters for Robnor Resinlab Limited, a manufacturer of specialist resin systems. The business recently renewed its lease for 10 years, providing secure long-term income.

The acquisitions follow the launch, and recent upsizing, of the Clearbell and Deva £250m logistics joint venture platform, targeting value-accretive assets in UK markets. By acquiring warehouses majority below replacement cost and executing ESG upgrades, the platform delivers quality space to under-supplied markets, aligning operational efficiency with sustainability to drive long-term value creation for both tenants and investors.

This acquisition demonstrates the breadth of our investment strategy and the opportunities we’re finding across different logistics sub-sectors. From urban multi-let repositioning in Maidenhead, to mid-box properties in the Midlands, to secure income from an established headquarters operation in Swindon – we’re building a diversified portfolio with multiple value drivers. We were thrilled to close out 2025 with this acquisition and look forward to doing more in 2026.”

Rob Cole, Investment Director at Clearbell Capital

Clearbell and Deva were advised by Newmark and the vendor by Index.

Clearbell and Deva Capital expand £250m UK logistics platform with four strategic acquisitions totaling c. £35m.

Clearbell Property Partners IV LP (Clearbell), a fund managed by private equity real estate fund management and advisory business Clearbell Capital LLP, alongside its joint venture partner Deva Capital, the real estate and corporate capital solutions investment arm of Santander Alternative Investments, has expanded its UK logistics portfolio with four strategic acquisitions totaling over 245,000 sq ft.

The assets, located in Bermondsey, Oxford, Rotherham and Sevenoaks, have been purchased from separate vendors and represent further progress toward the joint venture’s target £250m UK multi-let logistics strategy, focused on repositioning and modernising industrial assets through targeted ESG enhancements.

Bermondsey: Galleywall Trading Estate (38,000 sq ft) is fully let to FedEx until March 2026. The Zone 2 asset’s central location provides excellent connectivity, and its three-bay warehouse featuring offices and a large self-contained yard with HGV access represents a rarity for a central London location. The asset will undergo a comprehensive refurbishment targeting an EPC A rating.

Oxford: Unit B Langford Locks (38,000 sq ft), acquired with vacant possession, includes an adjoining 1.3-acre car park and 50m yard. Refurbishment works will remove the racking and mezzanine systems before being re-let. The site is well placed to capture robust occupier demand in Oxford’s undersupplied industrial market.

Sevenoaks: Mill Place, (80,000 sq ft), a multi-let property let to seven tenants will undergo phased refurbishment including re-roofing in several units and energy efficiency upgrades to improve occupational performance and sustainability.

Rotherham: Bessemer Way, (89,000 sq ft) will be let to SCX Special Projects on a new 15-year lease. The unit already benefits from an EPC B rating, with the business planning to include PV on the roof subject to tenant demand.

The acquisitions follow the launch, and recent upsizing, of the Clearbell-Deva £250m logistics joint venture platform, targeting value-accretive assets in UK markets. By acquiring warehouses majority below replacement cost and executing ESG-driven upgrades, the platform delivers high-quality space to under-supplied markets, aligning operational efficiency with sustainability to drive long-term value creation for both tenants and investors.

Strong occupier demand across the platform

Leasing activity remains strong, with two new lettings secured at existing sites in Bournemouth and Cardiff.

At Glynstell Park, Cardiff, Ninja Warrior (re-opening as FunParx) has agreed a 15-year lease for an 18,000 sq ft unit and will now be open all day long, appealing to a wider target audience. Located on Hadfield Road, the 101,000 sq ft asset benefits from proximity to Cardiff city centre.

At Alpha 31, Bournemouth, Print Dimensions has agreed to take 13,000 sq ft across three units on a six-year lease.

These four acquisitions demonstrate the strength and momentum of our partnership with Deva Capital, as well as the depth of opportunity across UK logistics. We continue to build a diversified, well-located portfolio with a balanced mix of income-producing assets and properties with clear repositioning potential. Each asset presents a compelling opportunity to drive value through sustainability-led enhancement.”

Rob West, Managing Partner at Clearbell Capital

These recent acquisitions further scale our target £250m logistics platform with Clearbell and enhance the diversification of our strategy. Each asset offers attractive value-creation potential alongside ESG-driven improvement and building upgrades. The UK light-industrial market remains a high-conviction theme for Deva and the wider Santander Alternative Investments platform.

Catherine Hong, Managing Director at Deva Capital

Clearbell and Deva were advised by Lambert Smith Hampton on the Bermondsey acquisition, Allsops for Oxford, Lewis Ellis for Sevenoaks and CPP for Rotherham.

Vendors were advised by Aitchison Raffety on Bermondsey, Carter Jonas on Oxford, Savills on Sevenoaks and Rotherham was unrepresented.

Clearbell’s Nottingham city centre office fully let following comprehensive refurbishment.

Clearbell UK Strategic Trust (CST), advised by Clearbell Capital LLP, has completed the full letting of 55 Maid Marian Way in Nottingham, following the agreement of a new lease with one of the UK’s leading education recruitment agencies Affinity Workforce Solutions. 

Affinity Workforce specialises in supplying temporary and long-term teaching and support staff to primary, secondary and SEND schools, as well as colleges, universities and prisons. The organisation has taken 2,881 sq ft of office space on a five-year lease, meaning the property now stands fully occupied across its five floors totalling over 14,600 sq ft. 

The firm’s new workspace achieved an EPC B rating following a comprehensive refurbishment. Works included installing energy-efficient LED lighting throughout, new carpets, adding a fully equipped kitchenette and a roof terrace that staff can access. Additional improvements include a new suspended ceiling grid and fully refurbished toilets, while the buildings rear stairwell has also been upgraded. 

Affinity Workforce joins an established community of occupiers at the leading workspace, including global recruitment consultancy Metric Search and wealth management platform FNZ UK. 

Located on one of the main thoroughfares of Nottingham, Maid Marian Way is within walking distance of the central Market Square and close to all major transport routes, including tram, bus and road access out of the city centre.  

The successful letting reflects broader positive sentiment in regional office markets, where Clearbell has been actively investing across its fund portfolios. This aligns with renewed occupier demand in prime city centre locations, as UK-wide office take-up reached 20.3 million sq ft in Q2 2025 – the highest in three years, according to CBRE. Clearbell UK Strategic Trust (CST), a Trust advised by Clearbell Capital LLP, has completed the full letting of 55 Maid Marian Way in Nottingham, following the agreement of a new lease with one of the UK’s leading education recruitment agencies Affinity Workforce Solutions. 

Affinity Workforce specialises in supplying temporary and long-term teaching and support staff to primary, secondary and SEND schools, as well as colleges, universities and prisons. The organisation has taken 2,881 sq ft of office space on a five-year lease, meaning the property now stands fully occupied across its five floors totalling over 14,600 sq ft. 

The firm’s new workspace achieved an EPC B rating following a comprehensive refurbishment. Works included installing energy-efficient LED lighting throughout, new carpets, adding a fully equipped kitchenette and a roof terrace that staff can access. Additional improvements include a new suspended ceiling grid and fully refurbished toilets, while the buildings rear stairwell has also been upgraded. 

Affinity Workforce joins an established community of occupiers at the leading workspace, including global recruitment consultancy Metric Search and wealth management platform FNZ UK. 

Located on one of the main thoroughfares of Nottingham, Maid Marian Way is within walking distance of the central Market Square and close to all major transport routes, including tram, bus and road access out of the city centre.  

The successful letting reflects broader positive sentiment in regional office markets, where Clearbell has been actively investing across its fund portfolios. This aligns with renewed occupier demand in prime city centre locations, as UK-wide office take-up reached 20.3 million sq ft in Q2 2025 – the highest in three years, according to CBRE. 

Achieving full occupation at Maid Marian Way demonstrates the success of our comprehensive refurbishment programme and hands-on approach to asset management, which continues to create exceptional working environments that deliver strong results for our investors. 

We’re delighted to welcome Affinity Workforce Solutions to the building and look forward to supporting their business as they establish themselves in this prime city centre location.” 

Rhys Jones, Asset Manager at Clearbell Capital

Achieving full occupation at Maid Marian Way demonstrates the success of our comprehensive refurbishment programme and hands-on approach to asset management, which continues to create exceptional working environments that deliver strong results for our investors. 

We’re delighted to welcome Affinity Workforce Solutions to the building and look forward to supporting their business as they establish themselves in this prime city centre location.” 

Esme Bianchi-Barry, CEO at Affinity Workforce Solutions

Clearbell secures 10 – year lease with ATAC Solutions at LOC8 logistics scheme in Maidstone.

Clearbell Property Partners III LLP (Clearbell), a fund managed by private equity real estate fund management and advisory business Clearbell Capital LLP, has agreed a 10-year lease with ATAC Solutions for an additional 25,811 sq ft unit at LOC8, Maidstone.

An Axius Water company, ATAC Solutions delivers advanced, sustainable water and wastewater treatment solutions across the UK. It specialises in biological treatment systems and tertiary filtration, helping clients to meet discharge consents and environmental targets.

The letting marks a significant expansion for the leading environmental services company, bringing its total footprint at LOC8 to 38,156 sq ft. The additional space will enable ATAC Solutions to increase manufacturing capacity for its nutrients removal systems, improve equipment storage and deployment logistics, and expand research and development capabilities for sustainable treatment technologies.

The letting also follows strong leasing momentum at the park, with only two units remaining in phase two, which reached practical completion in December last year. ATAC Solutions is one of a diverse range of occupiers including Technical Fixing Solutions, Hitachi, Huws Gray and Ocura Healthcare. Each business brings distinct expertise to the park, contributing to a dynamic business ecosystem, further reinforcing LOC8’s position as one of Maidstone’s leading destinations for employment.

All phase two units have been built to BREEAM “Excellent” standard, achieving EPC A+ ratings, with sustainable features such as solar PVs, EV charging points and gas-free infrastructure. These features reflect Clearbell’s wider commitment to embedding ESG principles into its investment approach, with energy efficiency and sustainable design central to both asset management and value creation.

It’s fantastic to see a local business accelerating their growth journey. ATAC Solution’s decision to expand at LOC8 is not only a testament to the strength of the South East business community, but also the quality and appeal of the proposition we offer, combining high-quality, sustainable space with a thriving occupier network. This letting aligns with our long-term vision for LOC8 as a strategic employment hub for the South East, and we look forward to supporting more businesses as they scale.”

Toby Saul, Director at Clearbell Capital

Expanding at LOC8 gives us the perfect base to scale up our operations, deliver more projects nationwide, and invest in the next generation of water treatment technology. With increasing demand for nutrient removal systems to protect our rivers and waterways, this new facility ensures we can respond quickly, efficiently, and sustainably to our clients’ needs.”

Adam Colley, Managing Director at ATAC Solutions

Clearbell welcomes two major restaurants to Durham’s Riverwalk.

Clearbell Property Partners II LP (Clearbell), a fund managed by private equity real estate fund management and advisory business Clearbell Capital LLP, has completed two new lettings at The Riverwalk in Durham as part of its strategy to bring curated and exciting social dining experiences to visitors.

Veeno, the authentic Italian wine bar chain, has taken a 15-year lease on a new 3,130 sq ft space. This marks the latest step in the brand’s growth, adding a sixth location to its portfolio across the UK, which includes bars in Leeds, Bristol and Edinburgh.

Known for offering a true Italian aperitivo experience, Veeno’s menu features a wide selection of wines sourced from the family-owned Caruso & Minini vineyard in Sicily, alongside traditional Italian cured meats, cheeses, fresh pasta and pizza. The new venue, anticipated to open in August will also host wine-tasting events, offering customers an immersive social dining experience.  

After over 2 years in Walkergate, Rio Brazilian Steakhouse are well established within the city and will be moving to a new prime 7,663 sq ft restaurant at The Riverwalk. Offering almost twice the seating capacity alongside stunning riverside and Cathedral views.

Rio will take visitors on a culinary journey into the Tijuca Urban Forest that surrounds Rio de Janeiro, with planted walls and flowered ceilings towering high above a traditional Brazilian Churrasco dining experience. Their specially trained Gaucho Chefs are on hand to serve exquisite meat cuts that are continuously carved at the table in an authentic Rodizio style.

Overlooking the River Wear with views of Durham’s historic cathedral and castle, Riverwalk is a vibrant retail and leisure destination home to a mix of national and independent brands. Clearbell has managed the centre since acquiring the 250,000 sq ft site in 2014.  

Veeno and Rio will join a number of well-known restaurants at Durham’s Riverwalk, including Zaap Thai, Cosy Club, El Pincho tapas bar, and Turtle Bay. 

Welcoming both Veeno and Rio to Riverwalk is a significant milestone in the evolution of the centre. Their unique take on social dining will bring something new and exciting, adding a greater variety and choice for our visitors. These new openings will not only enhance the customer experience but also represent a real vote of confidence in Durham’s vibrant hospitality scene. They complement the growing mix of independent and national brands we have curated at Riverwalk, reinforcing its position as a dynamic destination in the city.”

Toby Saul, Director at Clearbell Capital

Dan Lewis, Veeno, added:

We’re excited to open our new location at Riverwalk in Durham and to work with Clearbell on this journey. This space will allow us to bring the taste of Italy to the heart of Durham, creating a warm and inviting atmosphere where people can gather and share quality dining experiences.”

Howard Ecclestone, Rio’s, added:

Durham is a city full of culture and vibrancy, and Riverwalk offers the perfect setting for our next chapter. We look forward to introducing visitors to our traditional Brazilian Churrasco dining experience.”

Adam Hall, Director, Tandem Property Asset Management:

As property managers of The Riverwalk, Durham we delighted to welcome Veeno Wine Bar & Kitchen and Rio Brazilian Steakhouse. It’s great to see that, despite the challenging economic conditions, demand for space on The Riverwalk remains strong from high quality restauranteurs.”

Richard Simmons, RSA acted for Veeno, Pudney Shuttleworth and Rawstron Johnson act for Clearbell at The Riverwalk.

Clearbell & Deva expand logistics portfolio with acquistions in Cardiff & Glossop.

Clearbell Property Partners IV LP (Clearbell), a fund managed by private equity real estate fund management and advisory business Clearbell Capital LLP, alongside its joint venture partner, Deva Capital, have acquired two multi-let industrial assets – Glynstell Park in Cardiff and Glossop Brook Business Park in Derbyshire. The acquisitions form part of the JV’s ongoing logistics strategy, which focuses on identifying assets with strong fundamentals, value-add potential and opportunities for ESG-led enhancements.

Glynstell Park, Cardiff comprises eight units totalling 101k sq ft and is currently let to four occupiers. Located on Hadfield Road, the site benefits from close proximity to Cardiff city centre and occupies a site of nearly six acres with tenants including Selco, Wilkinton and M&P Direct. The property was extensively refurbished in 2017 and presents an opportunity to drive further value through sustainability-focused asset management, including the removal of gas infrastructure and the upgrading of EPC ratings to meet evolving environmental standards.

Glossop Brook Business Park totals 81k sq ft across 19 units and is currently occupied by 10 tenants. Situated in Glossop, east of Manchester, the business park aligns with Clearbell’s strategy of acquiring industrial assets below replacement cost in supply-constrained markets. Clearbell intends to improve EPC ratings across the site to at least a B or higher, supporting long-term resilience and enhancing environmental performance in line with industry standards.

Both acquisitions add to Clearbell’s growing logistics portfolio and demonstrate the continued appetite for high-quality multi-let industrial space in well-connected regional locations. The planned improvements across both sites will support occupier needs and ensure the assets remain fit for purpose as sustainability expectations continue to evolve.

These acquisitions are a strong addition to our logistics portfolio, reflecting our continued focus on well-located, multi-let industrial assets that offer long-term potential. With scope for targeted sustainability improvements and alignment to modern occupier needs, both Cardiff and Glossop support our strategy of delivering future-ready space across regional markets.”

Rob Cole, Senior Investment Manager at Clearbell Capital

Clearbell was represented by Lewis Ellis on Cardiff, and Cortex Partners & Fletcher Morgan advised the vendor, Ashfield Land. Index Real Estate advised Clearbell on Glossop, while Northcap acted for the vendor.

Glynstell Park represents a high-quality industrial asset in a UK capital city. We’re pleased to have supported Clearbell on this acquisition, which offer clear opportunities to enhance building performance and meet the evolving priorities of the occupier market.”

Julian Gallagher, Partner at Lewis Ellis

Index Real Estate were pleased to advise Clearbell on this latest acquisition. Glossop Brook Business Park provides a modern industrial estate with strong fundamentals and excellent scope to drive performance through proactive asset management.”

Tom Homan, Director at Index Real Estate

Clearbell expands logistics portfolio with new joint venture & key acquisitions across the UK.

Clearbell Property Partners IV LP (Clearbell), a fund managed by private equity real estate fund management and advisory business Clearbell Capital LLP, has expanded its logistics strategy by recapitalising its existing portfolio, acquiring new assets and implementing sustainability-led asset management.

As part of this expansion, Clearbell has entered into a joint venture with Deva Capital, a global alternative investment manager. The partnership will focus on driving the acquisition and repositioning of industrial assets across the UK, and delivering high-quality logistics spaces through ESG-led enhancements. The joint venture targets acquisitions for up to £150 million.

In December 2024, the new joint venture acquired an 18k sq ft industrial asset in West Byfleet. The site is currently occupied by Trustford, the UK’s largest Ford-dedicated dealer group, which operates a nationwide network of dealerships and service centres. The acquisition offers opportunities for future ESG-focused upgrades, including roof improvements and solar installations to improve the EPC rating.

The platform has also acquired Project Plus, a portfolio of two industrial assets totalling 179k sq ft across Gloucester and Manchester. The portfolio has opportunities to improve the ESG credentials, as well as regearing leases with the existing tenants, which include Severn Glocon in Gloucester, as well as Royal Mail Group and Wilkinson Star in Manchester.

Alongside these asset purchases, Clearbell has successfully completed a major refurbishment at a key industrial site, Coventry78, to enhance its sustainability and operational efficiency. The upgrades include the installation of LED lighting, replacing the gas heating system with an electric alternative in the office accommodation, and the addition of EV charging points. To further enhance its ESG credentials, a 400 kWp photovoltaic (PV) system is being installed, which, along with the completed works, will achieve an EPC A+ rating for the asset.

The Deva Capital joint venture, Project Plus and West Byfleet acquisitions, along with the Coventry78 refurbishment, all form part of Clearbell’s long-term strategy to enhance and grow its UK logistics portfolio. By acquiring warehouses below replacement cost and implementing ESG-led improvements, the portfolio delivers high-quality industrial space to under-supplied markets, aligning operational efficiency with sustainability to drive long-term value creation for both tenants and investors.

Clearbell was represented by Lewis Ellis in the West Byfleet and Project Plus acquisitions.

Our joint venture with Deva Capital allows us to build further momentum in our logistics strategy, expanding our ability to acquire and reposition industrial assets in key locations. We are excited to develop this new partnership and keep unlocking further acquisition opportunities in near future. The acquisition of Project Plus and West Byfleet strengthens our portfolio with high-quality, well-located assets that offer strong rental growth potential. Meanwhile, our focus on ESG-led improvements, as seen with the Coventry78 refurbishment, ensures that we’re enhancing sustainability while meeting occupier demand.”

Rob Cole, Senior Investment Manager at Clearbell Capital

We are delighted to have advised Clearbell on the acquisition of Project Plus and the Ford Retail warehouse in West Byfleet. Project Plus comprises a portfolio of reversionary urban logistics assets located in Manchester and Gloucester. West Byfleet comprises a single let warehouse in an excellent location adjacent to the M25. All of the properties present a fantastic opportunity to improve ESG credentials and bring the units in line with modern institutional standards.”

Julian Gallagher, Partner at Lewis Ellis

Clearbell welcomes trio of new arrivals to Freetrade building following major redevelopment.

Globally renowned insurance firm, Zurich, will be taking on 4,390 sq ft on Freetrade’s fourth floor. Having relocated from nearby Norfolk House earlier this year, the firm has taken the space on a 10-year lease term.

Aptia opened its new UK HQ at Freetrade earlier this year, having launched in the UK following a management buyout of Mercer’s UK pensions administration business. The company will be taking on 5,428 sq ft of space over a five-year lease on Freetrade’s second floor. 

Nine Chambers (Chambers of Christopher Kennedy KC), a leading barrister’s chambers specialising in commercial, crime, and common law litigation, will be relocating to a new contemporary office space after 30 years in its previous offices in St John Street. The chambers will be leasing 9,178 sq ft of premium workspace split between the ground and first floors, on a 10-year lease. The chambers is set to undertake an extensive office fit-out, creating meeting rooms, collaborative breakout spaces and a modern kitchen.

This announcement follows the recent opening of Blacklock, the London-based chophouse, at its first branch outside of the capital having agreed a lease for the lower ground floor of Freetrade. 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 Victorian building 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 upgraded 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. 

Our restoration of Freetrade has been an ambitious undertaking, transforming what is an iconic building, steeped in history, into a contemporary creative workspace. We’re thrilled to have had the opportunity to give this wonderful building a new lease of life, combining its statement architectural features with 21^st century amenity, wellbeing-focused workspace and strong sustainability credentials.

With high demand for quality creative workspace in Manchester, and an ambition to encourage more global investment into the city centre, Freetrade was identified as a prime location for redevelopment in June 2023. Testament to the work Clearbell has done to develop it into best in class workspace is the arrival of Aptia, Zurich and Chambers of Christopher Kennedy – fitting partners to be joining Freetrade and which match our ambition and vision for the scheme.”

Alice Murray, Head of Asset Management & Sustainability at Clearbell Capital

After three decades in our previous home, we are excited to be moving into a building that perfectly balances Manchester’s rich heritage with the most advanced facilities available to any legal business in the Northwest. This move represents our commitment to providing the highest quality service to our clients while embracing the future of legal practice.”

Christopher Kennedy KC at Nine Chambers (Chambers of Christopher Kennedy KC)

Clearbell was represented by CBRE and JLL, with OBI representing Nine Chambers and JLL representing Zurich.