Clarion Partners Europe has acquired, on behalf of its managed funds, Frontier Park Blackburn, a 954,000-square-foot modern logistics park in Blackburn, North West England, for £115 million (€135 million/$115 million), from developer Monte Blackburn.
Completed in phases between 2019 and 2022, Frontier Park Blackburn totals 18 individual units, ranging from 6,100 square feet to 161,000 square feet, each featuring modern, generic specifications and an EPC rating of A or B.
The scheme is located two miles east of Blackburn city center and adjacent to Junction 6 of the M65, the economic corridor through East Lancashire, providing mission-critical proximity to local labor pools and the major cities of Manchester and Liverpool. It is currently 94 percent occupied by nine tenants.
“This was a rare opportunity to acquire a modern logistics scheme in the North West, below replacement cost. The region has been characterized by a shortage of modern stock and a muted d
