Clearbell Property Partners III LP (Clearbell), a fund managed by Clearbell Capital LLP, today announces the acquisition of two industrial units for £8.75m.

The assets, comprising 177,000 sq ft, have been added to the Cara portfolio, a UK-wide portfolio focused on small-to-medium sized warehouses and industrial estates. The portfolio primarily targets suburban locations with limited supply.

Lilac Grove, Beeston, comprises a 70,000 sq ft unit, is currently let to BW Flexible Systems UK Ltd. The site is situated within proximity to Nottingham, with easy access to the M1.

Crown Farm Way, Mansfield, is a 107,000 sq ft industrial estate on the outskirts of Mansfield Town Centre. The site is well located in an area that is experiencing sustained demand for good quality industrial assets.

Asset management initiatives will include refurbishing and rationalising the existing office space at Crown Farm Way and working closely with the tenant at Lilac Grove to improve the asset.

Dominic Moore, Head of Asset Management & ESG Director at Clearbell Capital said: “There is growing demand for appropriate industrial space in the East Midlands. Yet land ripe for industrial development in urban and suburban locations is being snapped up by residential developers, squeezing industrial/warehouse supply. This presents an investment opportunity.

These acquisitions diversify the existing Cara portfolio, adding another region to the portfolio.”

The Cara portfolio consists of 22 assets across the UK.

Clearbell was advised by CPP based in Nottingham.