DHL and Mamas & Papas sites snapped up for £21m

Two logistics sites in Yorkshire have been snapped up in a £21m deal.

Clearbell Capital, the private real estate fund manager, announced the acquisition on behalf of one of its funds.

In a £10m deal, Clearbell has bought the UK headquarters and distribution centre of Mamas and Papas (M&P), the nursery products wholesaler.

The acquisition of the 300,000 sq ft building was subject to a new 12-year lease to Mamas & Papas with RPI linked rent reviews.

The second acquisition, of a property on High Common Lane in Doncaster, comprises 620,000 sq ft of purpose built accommodation across 13 units.

The asset is let to DHL for a further eight years with a break option in year three. DHL has been on site for over 20 years.

Rob West, partner at Clearbell Capital, said: “The Yorkshire distribution market continues to benefit from a favourable supply/demand imbalance. We expect to see sustained demand for logistics sites of this nature, which offer occupiers cost effective real estate solutions.”

Clearbell was advised by Savills and M1 Agency for Huddersfield and Doncaster respectively.

Commercial Property Partners acted on behalf of DHL Supply Chain.

Toby Vernon, co-founding partner at CPP, said: “We are delighted to have facilitated the sale of this large logistics complex to Clearbell.

“The investment at High Common Lane is a significant transaction of a large and complicated facility comprising 13 individual units. This site will be a great addition to Clearbell’s portfolio due to its size and future potential.”