- CPE's asset management team has been bolstered by appointment of Ben Sawbridge to deliver value-enhancing initiatives across its 3.2 million sq. ft. UK portfolio -
Clarion Partners Europe, the real estate investment fund manager specialising in European logistics and industrial assets, has agreed a 54,456 sq. ft. letting with Yusen Logistics, the global logistics and supply chain management provider, at its Widnes 54 warehouse.
Yusen Logistics has signed a five-year lease at a rent of £9.50 per sq. ft., which sets a new rental tone for the region. The EPC A and BREEAM "Excellent" certified property will service once of Yusen Logistics' existing client-contracts in the region. It is one of three buildings owned by Clarion Partners Europe in Widnes, all of which were constructed in 2022; the other two total 395,000 sq. ft and 258,000 sq. ft. respectively and are let to Kammac Limited and Supply Chain Coordination Limited, a logistics function of the NHS.
Widnes benefits from excellent connectivity to major Northern cities including Manchester and Liverpool, through well-developed road links.
To support its ongoing UK activity, Clarion Partners recently appointed Ben Sawbridge as Asset Manager, UK Portfolio, where he will be responsible for implementing value-enhancing initiatives focused on leasing, asset repositioning, and ESG performance, across the 3.2 million sq. ft. UK portfolio. Ben brings over a decade of UK commercial real estate experience having previously been an Associate-Director at Urban Logistics REIT where he managed a c. 3.7 million sq. ft. portfolio of primarily mid box warehouses with over 40 tenants.
Ben Sawbridge, Asset Manager, UK Portfolio, at Clarion Partners Europe, commented: “The supply of modern, sustainable warehouse space in the North West remains highly constrained, which has enabled us to secure this landmark letting. The industrial and logistics sector continues to benefit from compelling technological and demographical trends, and I'm hugely excited to have joined one of Europe's market leaders at this exciting stage in the cycle."
Clarion Partners Europe was advised by DTRE and B8RE. Yusen Logistics was advised by Louch Shacklock.