Valor Real Estate Partners and QuadReal Property Group have acquired a logistics hub in Barking, east London, to capitalise on growing demand for a limited supply of urban logistics centres in the UK.
The pair bought the 3.49-acre vacant site at 3-5 Thames Road for around £32.6m. It plans to develop a distribution hub where occupiers will benefit from connectivity to the nearby A13 and North Circular.
Barking’s position as a major industrial centre also contributed to the decision to purchase the site, with nearby residential-led regeneration projects eroding the supply of logistics hubs.
It follows a similar acquisition announced earlier this week by the jv for another logistics hub in Enfield, north London.
Thomas Blangy, senior vice-president at QuadReal Property Group, said: “These acquisitions align with our strategy of capitalising on high-growth urban logistics markets where supply constraints and strong demand present opportunities for long-term value creation.
“London’s last-mile logistics sector continues to offer solid fundamentals, and through our partnership with Valor, we are well-positioned to generate sustainable returns by delivering strategically located assets that meet occupier needs in these key submarkets.”
The two acquisitions add up to around £60m.
The jv was advised by Altus and SBY on the Barking acquisition.
Image © Valor Real Estate Partners
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