A UK value-add property fund managed by Clearbell Capital has bought a 12.5-acre industrial site.
Clearbell Property Partners III bought the Gables Way industrial site in Thatcham for £9.4m (€10m). Barwood Capital will act as the development manager.
Gables Way is made up of a 5-acre development site and a further 7 acres, with a 120,000sqft headquarters warehouse. The warehouse is currently home to high performance automotive engineering firm Xtrac.
Clearbell said it plans to develop additional additional warehouse space, working in partnership with Barwood Capital.
Dominic Moore, head of asset management at Clearbell Capital, said: “There is clearly a supply/demand imbalance for new build high-quality industrial space in the South East.
”The low supply in the area offers the opportunity to create new units, providing tenants with much sought-after space that is the right size for their needs.”
In June last year, Clearbell raised £310m from global investors to make the value-add real estate investments in the UK.