Clearbell Capital and Deva, the real estate and corporate capital solutions investment arm of Santander Alternative Investment, have bought FedEx's Bermondsey warehouse for £11.9 million with plans to upgrade the London facility.
Located in Zone 2, the 38,429-square-foot shed on Galleywall Road is let to the delivery services firm until March and has a large self-contained yard with HGV access. It also has offices.
Clearbell said the asset will undergo a comprehensive refurbishment targeting an EPC A rating following the deal. The vendor has not been disclosed.
Its investment director Rob Cole said in a statement: "We’re delighted to complete this Bermondsey acquisition. It is a rarity for us to purchase a warehouse in zone 2, making it a strong addition to our portfolio."
The Bermondsey deal was part of a wider £35 million investment spree by Clearbell to bolster its multilet platform in the UK, with other purchases in Oxford, Rotherham and Sevenoaks.
Jonathan Scott, capital markets director at LSH, said in a statement: "We are delighted to have advised Clearbell Capital on the acquisition of this prime industrial opportunity, strategically located in Bermondsey."
Aitchison Raffety acted on behalf of the vendor.