Clearbell sells mixed used assets for £11.75m
Clearbell Property Partners II LP (Clearbell), a fund managed by Clearbell Capital LLP, announces the sale of three industrial assets from its Polaris portfolio.
The assets located in Barnoldswick, Clitheroe, and Aspatria, were sold to Adhan Group for £11.75m. The sites total 653,000 sq ft and are well-let, with tenants including Silent Night, Sealy and Trutex. The assets have had their sustainability credentials improved, with energy efficient lighting and electric vehicle charging points.
Clearbell acquired the Polaris portfolio in August 2015 with plans to take advantage of the demand for industrial assets across the UK, particularly in urban locations.
Dominic Moore, Head of Asset Management & ESG Director at Clearbell, said:
“Demand for warehouse space remains high, particularly for the UK’s strong manufacturing sector. Sustainability is now a key priority for all tenants, and they are no longer willing to compromise on features such as energy-efficient lighting and electric vehicle charging points. As well as helping reduce environmental impact, improvements like LED lighting helps keep costs low, too.”
Adhan Group is a commercial and industrial lettings and sales company.
Clearbell was advised by Commercial Property Partners and Gerald Eve.