Wednesday, 19 November 2014
Clearbell buys Darlington mixed use hub for €29 million (UK)
Clearbell, the private equity real estate fund management business, has bought Darlington-based Lingfield Point for £23.45 million (€29.2 mln). Purchased from property group Marchday, Lingfield Point is one of the North-East’s biggest mixed use developments, home to large local employers and more than 2,500 people.
Once the world’s largest wool factory, Lingfield Point was originally developed in the early 1950s, before being transformed in more recent years into a hub of industrial, office and residential units. Major tenants include the Student Loans Company, Capita Business Services, Four Seasons Health Care and AMEC Group.
Winner of numerous awards, including the BCO Test of Time Award, Lingfield Point is famed for its ‘quirky’ approach to property management and has a vibrant community, extensive on-site amenities and contemporary accommodation. Based in the Tees Valley Region of the UK, Darlington benefits from strong road and rail connections, with the A1(M) running to the West and A66 to the South and East. Trains take 2 hours 25 minutes to London, Edinburgh in 2 hours and Newcastle in less than 30 minutes.