Clarion snaps up £90 million portfolio

Real estate investment fund manager Clarion has snapped up three distribution warehouses at Gorsey Point.

Clarion Partners Europe has purchased a total of 708,000ft² of industrial space from Mirastar, KKR Real Estate Partners’ industrial and logistics platform.

it is estimated that the company acquired the portfolio for circa £90 million.

Gorsey Point, which is located off Gorsey Lane, Gorsey, was delivered in two phases.

Phase one provided a 395,000ft² warehouse. The unit is single-let to Supply Chain Coordination, which manages the NHS supply chain operations.

Phase two made 313,000ft² of industrial space across two units, while the larger 258,500ft² unit is also single-let to Kammac, a third-party logistics provider.

There is a 54,500ft² unit.

Matthew Tatlock, Vice President of Clarion said: “Widnes, being a prime logistics destination, enjoys robust occupier demand, and offers the advantage of proximity to two major regional metropolitan areas in the UK.

“This favourable location has limited availability and a muted development pipeline, creating an environment for future rental growth.”

Clarion was advised by Gerald Eve and Goodwin Procter on the sale. Mirastar was advised by DTRE, CBRE, Clifford Chance, and Osborne Clarke.

Source: logisticsmanager.com