Clearbell Property Partners III LLP, a fund managed by private equity real estate fund management and advisory business Clearbell Capital LLP, has agreed a deal to sell four industrial units at LOC8 in Maidstone to global investment company Aberdeen.
The sale, which completed at £43.89 million, reflects a net initial yield of 4.84% and a capital value of £230 per square foot.
The four units, totalling 190,839 sq ft, are home to a diverse mix of national occupiers, including Zehnder Group UK Limited, Envirotainer Limited and Medequip Assistive Technology Limited.
All units have been built to BREEAM “Excellent” standard and have secured EPC A+ ratings. The units also feature sustainable infrastructure, including solar PVs, EV charging points and gas-free design.
Located directly off Junction 8 of the M20, LOC8 offers immediate access to one of the UK’s most vital logistics corridors, providing direct connectivity to London, the M25, and the Channel Tunnel and ferry ports at Folkestone and Dover.
The sale reflects the successful delivery of Clearbell’s business plan for this phase of the estate, following the strategic pre-letting of three of the four units prior to practical completion in December 2024 and the subsequent letting of the final unit to Medequip in mid-2025 at £14.00 per square foot.
Following the sale of these four units, Clearbell will continue to retain ownership of the rest of the scheme and overall responsibility for future development of the site’s remaining plots.
Toby Saul, director at Clearbell Capital, said: “This transaction demonstrates the quality of what we’ve delivered at LOC8 – a sustainable, strategically located development with a strong and varied tenant base.
“We’re pleased to have executed our business plan for units B1-B4 and to welcome Aberdeen to LOC8. Their approach to long-term asset management and focus on sustainable, occupier-focused investment mirrors our own strategy, which is particularly important as we’ll both be managing different parts of the estate.
“This alignment will support the continued success of the park and the diverse businesses that call it home.
“The park continues to attract exceptional demand, and we remain committed to supporting the growth of businesses across the remaining phases of the development.”
Clearbell was advised by Newmark. Aberdeen was advised by SBY.
Nick Ogden, partner at Newmark, said: “The sale generated strong investor interest at a time when there were very few core, multi-let logistics assets available to acquire.
“The property proved attractive due to its connectivity, strong ESG credentials and reversionary rents resulting from a strong performance in the North Kent occupational market through the last 24 months. It was great to work with Clearbell, Aberdeen and SBY.”
The sale follows strong leasing momentum across the wider LOC8 development. Phase one achieved 91% pre-letting, while phase two is now 75% let or under offer. Only two units remain available, with strong interest in both.
