E-commerce firm signs up to 123,000 sq ft warehouse
An e-commerce firm has secured a 15 year lease on a 123,000 sq ft warehouse in Doncaster.
MH Star has let Aspect Warehouse at West Moor Park, which is owned by Clearbell Property Partners III LP (Clearbell), a fund managed by Clearbell Capital. The firm has signed a 15-year lease, for an annual rent of £613,000.
Property consultancy Commercial Property Partners LLP (CPP) successfully negotiated the lease
The warehouse is in a key location for the logistics market in Yorkshire, with other firms on the park included Next and Ikea. MH Star Ltd’s contract marks a total take-up of large warehouse units within Yorkshire and the surrounding areas of circa 2,700,000 sq ft.
Aspect Warehouse is part of the Cara portfolio, which was acquired in March 2017. Cara is a UK-wide portfolio dedicated to the logistics sector, consisting of 20 assets. The portfolio aims to facilitate the demand for appropriate warehousing to service delivery in the UK.
Dominic Moore, Head of Asset Management & ESG Director at Clearbell, said: “We welcome MH Star Ltd as a new tenant at Aspect Warehouse. This is a highly sought-after location that already boasts distribution warehouses that are home to many major retailers. The supply-demand gap for logistics space to service delivery demand presents a compelling investment opportunity. Our Cara portfolio aims to take advantage of this gap.”
Toby Vernon, founder-partner at CPP added: “This deal demonstrates the ongoing appetite for good-quality logistics space across the region. Aspect provides an outstanding, high quality warehouse space situated on the West Moor Park, immediately adjacent to Junction 4 of the M18, offering fantastic road networks with fast connections to the M1, M18 and M62.”
Clearbell was advised by joint agents Commercial Property Partners LLP (CCP) and CBRE.