Parabola Capital swoops for Beatson Clark base
A DISTRIBUTION centre occupied by historic manufacturing company Beatson Clark has been acquired for £4.4m by Parabola Capital.
The centre, which totals 170,247 sq ft arranged over two units and is located in Barnsley, South Yorkshire, has been sold by CBRE Global Investors.
Ben Hall, investment director in the Leeds office of GVA, acted for Parabola, while Robert Hepworth, associate at Knight Frank, represented CBREGI on the sale.
The estate, which was constructed in 1999, produces more than £600,000 annual rent.
Established in Rotherham in 1751, Beatson Clark has a long heritage in the manufacture of glass containers for the pharmaceutical, food and beverage markets.
Mr Hall said: “This is an astute acquisition for Parabola which was attracted to the secure seven and a half year income for what is a well-established facility occupied by an excellent business in Beatson Clark.
“More widely, this deal is further evidence of an acceleration in investment activity in good quality assets and an indicator that confidence is returning to pre-recession levels.”
Mr Hepworth added: “The transaction between CBREGI and Parabola Capital represents an excellent deal for both parties in the industrial investment market in South Yorkshire.
“CBREGI have run through the business plan for this asset and have exited at a pertinent time in the market cycle, while the strong property fundamentals together with seven and a half year term certain to a very good covenant generate a good return on the investment for Parabola.”
