Clarion Partners Europe has acquired Frontier Park Blackburn for £115 million, on behalf of its managed funds.

The deal sees the modern logistics park purchased from developer Monte Blackburn Limited.

Located just two miles east of Blackburn city centre and adjacent to Junction 6 of the M65 motorway, Frontier Park comprises 954,000 sq. ft. across 18 modern units, ranging in size from 6,100 sq. ft. to 161,000 sq. ft. All units feature high-quality generic specifications and boast EPC ratings of A or B. The park is currently 94% occupied by nine tenants, benefiting from its strategic position along the East Lancashire economic corridor with direct links to labour pools and major urban centres such as Manchester and Liverpool.

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Developed between 2019 and 2022, the scheme offers strong fundamentals amid a region facing limited modern logistics supply and a muted development pipeline.

Neli Mihova, Vice President at Clarion Partners Europe, commented: "This was a rare opportunity to acquire a modern logistics scheme in the North West, below replacement cost. The region has been characterised by a shortage of modern stock and a muted development pipeline, underpinning the asset's attractive reversion potential."

The acquisition marks Clarion's continued expansion in the UK logistics market. Since March 2023, the firm has invested over £400 million in 10 high-quality logistics assets across key locations, including Peterborough, Widnes, Coventry, Redditch, Kettering, and Haydock.

Rory Buck, Managing Director at Clarion Partners Europe, added: "Despite continued market volatility, we have deployed a further £115 million 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."

Clarion Partners Europe was advised by DLA Piper, Hollis, and Atlas Real Estate, among others.