Real estate investment fund manager Clarion Partners Europe has acquired, on behalf of its managed funds, Frontier Park Blackburn, for £115 million.
The 954,000ft² logistics park was completed in phases between 2019 and 2022, with Valor acquiring the park from developer Monte Blackburn Limited.
Frontier Park Blackburn totals 18 individual units, ranging from 6,100ft² to 161,000ft², each featuring generic specifications and an EPC rating of A or B.
The scheme is located two miles east of Blackburn city centre and adjacent to Junction 6 of the M65 and is currently 94% occupied by nine tenants.
Since March 2023, Clarion Partners has invested £400+ million in the UK across 10 logistics assets in locations including Peterborough, Widnes, Coventry, Redditch, Kettering and Haydock.
Managing director at Clarion Partners Europe, Rory Buck, said: “Despite continued market volatility, we have deployed a further £115m 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 benefitting from supply constraints within UK logistics corridors.”
