Clearbell and Barwood agree new 5-year lease with Jaguar Land Rover at Ellesmere Port logistics unit
Clearbell Property Partners III LP (“Clearbell”) and Barwood Regional Property Growth Fund IV LP, have today announced the lease renewal of their institutional-grade warehouse in Ellesmere Port to British multinational automobile manufacturer Jaguar Land Rover.
Jaguar Land Rover has signed a new 5-year lease for the premises at a headline rent of £2.6 million per annum.
The 440,000 sq ft logistics space was purchased in January 2021 from Värde Partners, an alternative investment firm. The large distribution warehouse is located on a 21-acre site and will continue to be fully let to Jaguar Land Rover. It lies adjacent to Junctions 6 and 7 of the M53 motorway which, in turn, provides access to the M56/M6 and national motorway network. Commercial amenities include a separate car park with 266 car spaces plus 10 visitors/disabled spaces, two-storey fully fitted offices and two hub offices.
The Ellesmere Port area has seen many notable changes in recent years, with investment into key infrastructure projects at the Port of Liverpool and Merseyside Gateway Bridge. Cheshire West and Chester Council has committed a substantial amount of funding to support regeneration in Ellesmere Port, having secured £13 million from the Department for Levelling Up, Housing and Communities’ Levelling Up Fund in January to support the transformation of Ellesmere Port market hall and pedestrian links.
Alice Murray, Associate Director, Clearbell Capital LLP, said:
“This major lease renewal with an extremely strong covenant is a fitting testament to the team’s intensive asset management of the space and our collective efforts to ensure that it meets the needs of tenants. On top of this, the long-term commitment from such an iconic household name like Jaguar Land Rover represents a real vote of confidence in the unit.”
Jonathon Ellerington, Senior Investment Manager, Barwood Capital, said:
“Having identified the property’s reversionary potential on acquisition, this lease renewal to Jaguar Land Rover is a significant achievement and a testament to the strong fundamentals of the sector.”
Clearbell and Barwood were advised by independent logistics and industrial property consultancy Junction 10 Consulting.