A leading business park in Cardiff is under new ownership. Glynstell Park has been acquired by joint venture partners Clearbell Capital and Deva Capital. The value of the acquisition has not been disclosed.
Glynstell Park comprises eight units totalling 101,000 sq ft on a near six acre site at Hadfield Road. Tenants include Selco, Wilkinton and M&P Direct. The property was extensively refurbished in 2017.
Clearbell and Deva Capital have also acquired the 81,000 sq ft Glossop Brook Business Park in Derbyshire. Clearbell manages the Clearbell Property Partners fund.
Both acquisitions add to Clearbell’s growing logistics portfolio and its continued appetite for high-quality multi-let industrial space in regional locations.
Rob Cole, senior investment manager at Clearbell Capital, said: “These acquisitions are a strong addition to our logistics portfolio, reflecting our continued focus on well-located, multi-let industrial assets that offer long-term potential.
"With scope for targeted sustainability improvements and alignment to modern occupier needs, both Cardiff and Glossop support our strategy of delivering future-ready space across regional markets.”
Clearbell was represented by Lewis Ellis on its Cardiff acquisition, Cortex Partners & Fletcher Morgan advised the undisclosed vendor.
Julian Gallagher, partner at Lewis Ellis, said: “Glynstell Park represents a high-quality industrial asset in a Ƶ capital city. We’re pleased to have supported Clearbell on this acquisition, which offer clear opportunities to enhance building performance and meet the evolving priorities of the occupier market.”
