Clarion Partners Europe buys UK logistics park for €135m

Real estate investor Clarion Partners Europe (CPE) is expanding its presence in the UK with the £115 mln (€135 mln) acquisition of Frontier Park Blackburn in Northwest England.

Frontier Park Blackburn

The purchase from developer Monte Blackburn Limited reflects CPE's confidence in the region's logistics market, which is expected to experience above-average rental growth.
Built between 2019 and 2022, the 88,629 m2 park near Blackburn features 18 modern units with EPC A or B energy performance ratings and is 94% occupied by nine tenants. Its location near the M65 motorway provides key connections to the local workforce and major cities like Manchester and Liverpool.
Neli Mihova, VP, Clarion Partners Europe, commented: “This was a rare opportunity to acquire a modern logistics scheme in the Northwest, below replacement cost. The region has been characterized by a shortage of modern stock and a muted development pipeline, underpinning the asset's attractive reversion potential."
Rory Buck, managing director, Clarion Partners Europe, added: “Despite continued market volatility, we have deployed a further £115 mln into the UK, demonstrating both our deal execution capabilities and the attractive opportunities that the current market dislocation is throwing up. This acquisition reflects our continued focus on modern logistics assets benefiting from supply constraints within UK logistics corridors."
Clarion Partners Europe's acquisition was supported by a team of advisors, including DLA Piper, Hollis, and Atlas Real Estate, while Freeths acted for Monte Blackburn.