Travers Smith LLP has advised long-standing client Clearbell Capital LLP, a private equity real estate fund management and advisory business, on its Clearbell Property Partners IV LP fund (Clearbell) acquisition of Parkside Industrial Estate, Wolverhampton for £7.725 million, adding to its expanding logistics platform.
Parkside, Wolverhampton consists of eleven units, let to 4 tenants and is 94% occupied. Plans are underway for comprehensive upgrades, including reroofing units, installing photovoltaic (PV) panels, expanding yard areas, upgrading signage and enhancing the estate’s overall functionality, appearance and sustainability. A key focus will be improving the site’s environmental performance, aiming to upgrade all EPC ratings to a B or better.
The Travers Smith team was led by partner Emma Pereira and associate Dan Forshaw.
Rob Cole, Senior Investment Manager at Clearbell Capital, said: “Acquiring Wolverhampton marks an excellent addition to Clearbell’s logistics portfolio. Working closely with Travers Smith LLP, we successfully completed this transaction, reinforcing our focus on securing industrial properties with strong growth potential.
“We look forward to implementing strategic upgrades to enhance the estate’s overall environmental credentials and functionality, while continuing to search for new opportunities for the portfolio.”
