Clearbell Property Partners IV LP, a fund managed by Clearbell Capital LLP (Clearbell), has today announced the acquisition of six regional industrial assets from UK property investment firm Palace Capital plc for £34 million, reflecting a net initial yield of 6.2%.
The portfolio comprises six industrial and logistics assets located throughout the UK: Coventry, Avonmouth, Newbury, Kettering, Burgess Hill and Verwood. The 312,000 square feet portfolio generates £2.2 million per annum and is 97% occupied by several businesses including e-commerce, manufacturers and distributors. The portfolio will offer asset management opportunities to grow the rents and improve the ESG credentials of the units.
Source: clearbell.com on the 30th of May 2023
https://www.clearbell.com/news/2023/05/30/clearbell-acquires-industrial-portfolio-from-palace-capital-plc/?vc=1