Clearbell sells Huddersfield warehouse for £8.425m
Clearbell Property Partners III LP (Clearbell), a fund managed by Clearbell Capital LLP, today announces the sale of a 155,000 sq ft warehouse in Huddersfield for £8.425m.
The asset has been purchased by Dunedin Property and is currently fully let to retailer Mamas and Papas. This follows the sale of a 125,000 sq ft building on the Huddersfield site for £7m to DG Asset Management in May 2021.
The site is conveniently located on the M62 corridor, within easy reach of both Manchester and Leeds.
Clearbell acquired the asset in 2017 to take advantage of high demand for mid-to-large logistics assets. The warehouse formed part of Clearbell’s Taurus portfolio, which is now comprised of a 615,000 sq ft asset at Bawtry Park in Doncaster.
Dominic Moore, Head of Asset Management and ESG Director at Clearbell Capital, said:
“The Covid-19 pandemic has driven demand for logistics space to record levels, with the acceleration of trends like online shopping. In particular, there is growing demand for larger warehouses in strategic areas throughout the country. Investors are recognising the strong yields that these assets can deliver.”
Clearbell was advised by Commercial Property Partners. Dunedin Property was advised by Gent Visick.