Private equity fund manager Clearbell has acquired Lingfield Point, a mixed-use property and former wool factory in the northeast UK market town of Darlington, for £23.5 mln (€29.4 mln).
Private equity fund manager Clearbell has acquired Lingfield Point, a mixed-use property and former wool factory in the northeast UK market town of Darlington, for £23.5 mln (€29.4 mln).
Purchased from property group Marchday, Lingfield Point is one of the northeast region’s biggest mixed-use developments. Originally developed in the early 1950s, Lingfield Point has been transformed in more recent years into a hub of industrial (97,000 m2), office (3,600 m2) and residential (1,400 m2) units. Major tenants include the Student Loans Company, Capita Business Services, Four Seasons Health Care and AMEC Group.
Based in the Tees Valley Region of the UK, Darlington benefits from strong road and rail connections, with the A1 motorway running to the West and A66 to the South and East.
Rob Mills, partner at Clearbell, commented: ‘Lingfield Point is one-of-a-kind and we look forward to building on its success to date. It’s a regional hub with strong anchor tenants and distinctive character. Clearbell plans to invest in the scheme and apply our well-honed asset management capabilities.’
