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.