Clearbell Property Partners has acquired Parkside Industrial Estate in Wolverhampton for £7.72 million.
This strategic investment promises future enhancements to the site’s infrastructure and appeal.
Clearbell Property Partners has strategically expanded its portfolio with the acquisition of Parkside Industrial Estate in Wolverhampton, purchasing the site for £7.72 million. This site encompasses 11 units, totalling approximately 100,000 square feet. Located in Hickman Avenue, east of Wolverhampton city centre, the estate is currently 94% occupied, with four current tenants.
The acquisition aligns with Clearbell Capital’s strategy to invest in industrial properties that offer significant reversion value and are below replacement cost. They plan a substantial refurbishment programme that includes re-roofing some units, installing photovoltaic panels, expanding yard areas, upgrading signage, and enhancing the estate’s overall appearance and functionality.
The aim is to boost rental values and improve energy performance certificates to meet institutional standards, enhancing the site’s appeal to future tenants.
The industrial property market remains buoyant in the West Midlands, especially around Wolverhampton, thanks to its central location and rich industrial heritage.
This vibrancy attracts both occupiers and investors, making multi-let estates like Parkside particularly attractive for investment chances.
The region’s history in manufacturing and engineering continues to provide a strong foundation for this market strength.
Rob Cole, senior investment manager at Clearbell Capital, expressed optimism about the acquisition, highlighting its alignment with the firm’s industrial logistics platform.
“The Wolverhampton acquisition is an excellent addition to our logistics platform,” said Mr. Cole, “offering us a chance to enhance rental values and improve the site’s general appearance.”
Parkside Industrial Estate presents strong investment potential, with opportunities for rental growth and asset management enhancements.
According to Mark Rooke, a director in Clearbell’s real estate investment team, “The site’s central location makes it extremely appealing, and we are optimistic about its potential.”
The acquisition is indicative of continued strong investor demand for quality industrial opportunities in well-established locations.
Oliver Forster, senior director in CBRE’s investment properties team, noted that the sale followed a competitive process, emphasizing ongoing demand in the sector.
This demand underlines the attractiveness of multi-let industrial properties as a viable investment option, providing diversity and potential for growth.
The acquisition reflects the dynamic nature of the industrial property market in Wolverhampton, driven by strategic investments.
With plans for upgrades and enhancements, Clearbell Capital anticipates increasing the estate’s value and appeal.
Clearbell Capital’s acquisition of Parkside Industrial Estate demonstrates a commitment to enhancing and growing its portfolio through strategic industrial investments. Future improvements will likely increase the site’s attractiveness and value.
