Clearbell Property Partners III LP, a fund managed by private equity real estate fund management and advisory business Clearbell Capital LLP, has announced that the first phase of its LOC8 development, a multi-let industrial estate in Maidstone, is now fully let. Momentum is also building at the site’s second phase which is already 50% pre-let.
Nivek Catering Supplies, an independent distributor of catering supplies across the South East, has now committed to joining LOC8 phase two, taking on 20,501 sq ft.
It will join Huws Gray, the UK’s largest independent builders’ merchant, and healthcare furniture supplier Ocura Healthcare. The two businesses signed agreement for leases this year, securing 24,951 sq ft and 31,216 sq ft units respectively.
Clearbell broke ground on the second phase of LOC8 earlier this year in what will be the next step towards realising the site’s full potential and generating up to 1,200 new jobs.
LOC8’s phase 2 will see 185,200 sq ft of space developed across seven units, with completion scheduled for September 2024.
The new units will take the development to more than 435,000 sq ft. Following the latest pre-lets, three units remain available, ranging in size from 25,601 – 36,398 sq ft.
Located in the heart of Kent, at Junction 8 of the M20 in Maidstone, LOC8 has been developed to a high sustainability specification, with extensive solar panels and EV charging points throughout.
With phase one achieving a BREEAM “Very Good” rating and EPC ratings of A and A+, the second phase has taken the additional step of targeting a BREEAM “Excellent” rating.
As part of this, all the new units have been designed to be gas-free, running only on electricity. Much of that electricity will also be provided by the solar panels installed on the units, providing cost savings of circa £135,000 per annum to occupiers.
The site also provides for a biodiversity net gain of 10% with 12 acres of new wildlife habitat, including nearly 12,000 new trees and four wildlife ponds.
Toby Saul, associate director at Clearbell Capital, said: “We developed LOC8 to the highest standard with our prospective occupiers’ requirements as our priority.
“Fully letting LOC8’s first phase and securing 50% pre-lets at the second is testament to the sustained demand for sustainable industrial and logistics sites in the region.
“We’re excited to be working with our new tenants, Nivek Catering Supplies, Ocura Healthcare and Huws Gray, amongst many others, to provide them with great spaces to continue their growth in the region.”
Murray Smith, sales and marketing director at Ocura, added: “We are really looking forward to opening our new facilities later this year. This marks a significant milestone for Ocura Healthcare Furniture, providing a modern and sustainable environment for our dedicated team.
“Our new building will enable us to increase our production capacity, improve our logistics, and enhance our ability to serve our valued customers with even greater efficiency.”
Phase one of LOC8 comprises 245,000 sq ft of space across 11 warehouse units, ranging in size from 5,000 to 60,000 sq ft.
LOC8 benefits from links to the key trade hubs of the Thames and Channel Ports and Eurotunnel, as well as access to the South East’s large, skilled labour pool.
The site is also connected to the nearby Maidstone town centre by a new electric bus service and cycle lane, created to reduce car usage in the area.
Clearbell purchased the site in 2019 as part of its existing portfolio of multi-let industrial developments.
