Friday, August 12, 2022

Clearbell fully lets Flintstone Portfolio with new Nottinghamshire deals

Clearbell UK Strategic Trust (CST or Clearbell), a Trust advised by Clearbell Capital, has fully let its Flintstone Portfolio, with two new leases agreed at Orchard Court industrial park in Nottinghamshire.

The Trust has agreed leases totalling nearly 18,000 sq ft at Orchard Court. This includes a 12,900 sq ft warehouse, which has been let to Dawson Group, and a 5,000 sq ft unit, now let to AF Switchgear Limited.

The lettings follow asset management work to improve the EPC ratings of the assets, to an A and B rating respectively.

As a result of these agreements, the Flintstone Portfolio, purchased in February 2022 is now fully let. The portfolio of eight properties comprise distribution, industrial and an office.

Clearbell was advised by joint agents FHP Property Consultants and Commercial Property Partners.

Alice Murray, asset manager at Clearbell Capital LLP, said: “Investor and tenant appetite for industrial and logistics assets shows no signs of abating. The strong letting activity we have seen across the Flintstone Portfolio is also testament to demand for quality assets and the importance of strong ESG credentials when tenants are making leasing decisions.”

Chris Proctor, of FHP Property Consultants, said: “I am delighted that Stuart and I have managed to conclude two lettings on behalf of Clearbell within a very swift marketing period.

“A high level of interest was achieved in both units and excellent commercial terms secured. The two units at Orchard Court provided modern good quality warehouse and distribution space within a strong location close to the A38 and Junction 28 of the M1.”

Stuart Waite, of Commercial Property Partners, said: “We are pleased to have concluded two leasing deals on behalf of our client following their recent acquisition of the estate. The units were let swiftly, at strong headline rental levels following competitive interest.

“To attract tenants the calibre of AF Switchgear and Dawson Group is a fantastic result for our client, who concluded a refurbishment programme within a tight timeframe post acquisition.”

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