Clearbell Property Partners IV LP (Clearbell), a fund managed by 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 two secondary industrial units from Headlam Group Plc.

The assets, totalling c.140,000 sq ft, are located in Nottingham and Rochester, and present two complementary value-creation opportunities.

In Bulwell, Nottingham, the joint venture has acquired the Cheshire Building. Now vacated by Headlam Group, the 83,000 sq ft unit will be comprehensively refurbished, bringing the asset in line with modern standards. MCD House in Rochester is a 57,000 sq ft facility still occupied by Headlam Plc until June next year via a sale and leaseback arrangement. Once Headlam Plc vacate, the building will also be comprehensively refurbished. The contrasting income and vacancy complement each of the two business plans with the refurbishment programme staggered for both assets.

The properties are well located with the Cheshire Building just off Junction 26 of the M1 and approximately six miles north of Nottingham City Centre, and MCD House located off of the M2 between Junctions 1 and 2. The assets will be comprehensively refurbished to achieve EPC B ratings or above, with upgraded specifications and market positioning to support future lettings and operational performance.

Both acquisitions completed in May 2026, bringing the portfolio to 25 assets and more than 115 separate units totalling more than 1.6m sq ft.

These assets have been on our radar for some time, and we’re delighted to have secured them. Both properties benefit from strong underlying fundamentals with a clear scope for refurbishment and modernisation which is at the core of Clearbell’s asset management plan. We continue to see robust occupier demand for well-located, fully refurbished industrial units. There remains a clear supply gap for high-quality assets in key logistics corridors, and these properties are well positioned to meet that demand.”

Rob Cole, Investment Director at Clearbell Capital

Lambert Smith Hampton represented Headlam Group Plc. Clearbell Capital LLP were represented by FHP Property Consultants and CBRE.