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 (JV) partner Deva Capital, the real estate and corporate capital solutions investment arm of Santander Alternative Investments, has agreed a new lease with synthetic fuel producer Rivan at its warehouse asset on Galleywall Road in Bermondsey. 

The largest letting in the 23-property strong CLP portfolio, Rivan will take a new 10-year lease at the 39,000 sq ft unit.

Rivan is a synthetic fuel company focused on developing alternatives for sectors that are difficult to electrify. The business aims to make its product a cheaper and lower-carbon alternative to fossil fuels, capable of being used as a like-for-like replacement. Following its recently announced £25 million fundraise, Rivan is continuing to scale its operations and will move in this May, relocating from its previous headquarters just one mile away. The company will use the unit to scale production in the UK.

The property is being comprehensively refurbished to achieve an EPC A rating, with upgrades including a recoated roof, new LED lighting, refurbished offices, EV chargers, secure bike storage and solar panels.  

Located on Galleywall Road, the warehouse benefits from a prime Zone 2 position in Bermondsey, with excellent access to London Bridge, Canary Wharf and the wider Central London market via Bermondsey Underground station, South Bermondsey station, the A2, Tower Bridge Road and the Rotherhithe Tunnel. The asset also offers rare logistics features for Central London, including three level loading doors, up to 37 metres of yard depth and loading provision for articulated lorries.  

This is a standout letting for CLP and a strong endorsement of both the quality of the asset, the refurbishment and the depth of demand for best-in-class urban logistics space. Galleywall Road is a rare Bermondsey warehouse offering, combining scale and excellent connectivity in one of London’s best industrial locations. Securing a business like Rivan on a long-term lease is a very positive outcome and we look forward to supporting them through this next phase of growth following their impressive fundraise.”

Toby Saul, Director at Clearbell Capital LLP

We are excited to open Production Base 1 on Galleywall Road. This facility will support production of up to 50MWs per year of our synthetic fuel systems, enabling us to immediately start domestic production of synthetic fuel in the UK.”

Tom Pere-Diaz, Operations Lead at Rivan