Clearbell Capital’s Property Partners III fund has secured the planning permission needed to start work on a new mixed-use business park in Maidstone, Kent, in the UK.
The £47 mln (€54 mln) scheme, which was approved last week by Maidstone Borough Council’s planning committee, aims to provide 489,000 sq ft (45,430 m2) of mixed-use space for local businesses. Clearbell will begin construction of the site infrastructure and landscaping later this year.
The site is located just off Junction 8 of the M20, within easy reach of London and the South East.
Clearbell purchased the greenfield site in June 2019 as part of its existing portfolio of multi-let industrial (MLI) assets, to meet increasing demand for industrial and logistics assets.
‘Industrial and logistics assets continue to be in high demand, particularly in the South East, and we only see this trend accelerating in the future,’ said Nick Berry, partner of Clearbell Capital and the development manager for the site.
