Clearbell Property Partners IV LP (Clearbell) alongside real estate and corporate capital solutions investment arm of Santander Alternative Investments, Deva Capital, has acquired two secondary industrial units from Headlam Group Plc.
The assets, totalling c.140,000ft², are located in Nottingham and Rochester. In Bulwell, Nottingham, the joint venture has acquired the Cheshire Building.
Now vacated by Headlam Group, the 83,000ft² unit will be comprehensively refurbished, bringing the asset in line with modern standards.
MCD House in Rochester is a 57,000ft² facility still occupied by Headlam Plc until June next year via a sale and leaseback arrangement.
Once Headlam Plc vacate, the building will also be comprehensively refurbished. The contrasting income and vacancy complement each of the two business plans with the refurbishment programme staggered for both assets.
The assets will be comprehensively refurbished to achieve EPC ‘B’ ratings or above, with upgraded specifications and market positioning to support future lettings and operational performance.
Both acquisitions completed in May 2026, bringing the portfolio to 25 assets and more than 115 separate units totalling more than 1.6 million ft².
Clearbell Capital investment director, Rob Cole, said: “These assets have been on our radar for some time, and we’re delighted to have secured them.
“Both properties benefit from strong underlying fundamentals with a clear scope for refurbishment and modernisation which is at the core of Clearbell’s asset management plan.
“We continue to see robust occupier demand for well-located, fully refurbished industrial units. There remains a clear supply gap for high-quality assets in key logistics corridors, and these properties are well positioned to meet that demand.”
