Coalfields adds warehouse to portfolio

THE Coalfields Regeneration Trust has acquired a 50,000 sq ft warehouse in Doncaster.

Blue Marble Properties has sold its client’s property, Pinnacle in Doncaster, which was built in 2006 and is located on the Denaby Main Industrial Estate.

Shaun O’Brien, investment director at The Coalfields Regeneration Trust, said: “We were challenged by the government to find new ways in which, as a charity and social enterprise, we could become self-financing. Investment in property has allowed us to address this crucial objective and we are pleased to add Pinnacle to our portfolio.”

Blue Marble Properties initially identified and acquired the property in 2012 for its clients, a joint venture between Pemberstone and Bridges Sustainable Property Fund.

The warehouse, which is occupied by Senior Architectural Systems on a 15 year lease from 2007, was originally built as a speculative unit.

After a relatively short ownership period, and in view of the resurgence in demand for commercial investment property, Blue Marble Properties advised its clients in respect of a potential sale and the investment was put on the market in July by the Leeds office of CBRE at an asking price of more than £2.43m.

Tim Matthews, CEO of Blue Marble Properties, said: “Pinnacle has been a very high performing property during the period of our client’s ownership and I’m sure will continue to generate excellent returns for The Coalfields Regeneration Trust.”