Clearbell Property Partners IV LP, alongside its joint venture (JV) partner Deva Capital, has acquired two new industrial assets in Banbury and West Byfleet.
The acquisitions, purchased from the Metro Property Unit Trust managed by Federated Hermes, total 180,000ft².
The five industrial units located in Banbury, Oxfordshire, total around 115,000ft², with planned asset management initiatives include upgrading EPC ratings to ‘B’ or above and installing rooftop solar.
Tenants include global food ingredients manufacturer Newly Weds, healthcare services provider EMED Group, and IT and cloud services specialist Covenco Recovery Services.
In West Byfleet, the joint venture has acquired Trackside Business Centre, a 65,000ft² multi-let industrial estate comprising 11 units, all of which are fully let.
Both acquisitions were completed in April 2026, bringing the portfolio to 23 assets totalling over 1.5 million ft².
The JV has also refinanced the entire portfolio with HSBC UK, achieving a higher LTV and lower margin, to reflect the latest acquisitions and asset management performance to date.
The new facility totals £116m, with a £34m accordion providing capacity to scale to £150m in support of future acquisitions and ongoing sustainability initiatives.
The four-year loan, with a one-year extension, provides the flexibility to finance both new purchases and ongoing improvements across the portfolio.
HSBC UK relationship director, Peter Nelson, said: “We’re delighted to support Clearbell and Deva Capital with this new facility, which refinances existing arrangements and provides additional capacity to pursue future acquisitions.
“This transaction reflects our shared focus on long-term, sustainable growth.
“At HSBC UK, we’re committed to backing ambitious businesses with flexible financing and sector expertise, helping them move quickly on opportunities while maintaining a disciplined approach to capital structure.
“We look forward to working closely with the teams at Clearbell and Deva Capital as they continue to execute their strategy.”
