Travers Smith LLP has advised Clearbell Property Partners III LP (Clearbell), a fund managed by long-term client Clearbell Capital LLP on the sale of a 116,000 sq ft warehouse site at Thatcham Park, Berkshire to NFU Mutual Insurance Society Limited for £24.95 million.
Clearbell Capital LLP is a UK-based real estate fund management and advisory business with a global investor base. It invests in and advises on a diverse range of real estate projects across the UK. Covering everything from active asset management to developing properties across all real estate sectors, it seeks out opportunities to create value.
Clearbell acquired Thatcham Park in June 2019 and, together with Barwood Capital as development manager, completed the development of seven new warehouse units this March, each built to a Grade A specification and in compliance with the highest environmental standards. Each of the units are EPC A rated and BREEAM ‘Excellent’, with dedicated parking featuring electric vehicle charging points and each unit with its own PV panels. Two of the units have already been let.
Dominic Moore, Head of Asset Management & ESG Director at Clearbell Capital, said: " “Grade A warehouses in logistics hotspots, particularly in the South East of England, remain highly sought after by institutional investors. These investors are also prioritising excellent environmental credentials with any new investment, meaning high quality developments such as Thatcham Park are quickly snapped up.”
Partner Emma Pereira, who advised on the sale alongside Real Estate Associate Harriet Large, commented: "We were delighted to work with the Clearbell team on this sale and look forward to continuing to support them with future projects".
