Delancey Real Estate has sold the Trafalgar Trading Estate in Enfield, north London, for £27.4m – a 3.73% yield.
Trafalgar Trading Estate comprises 11 units totalling more than 79,000 sq ft and is let to tenants including Rexel, Fairfax London and Howdens.
The multi-let industrial park has been bought by pan-European logistics investor Valor Real Estate Partners in an off-market deal.
Dan Berger, director of property and funds at Delancey, said: “This disposal provides another positive outcome for our client as part of the rebalancing of their portfolio to deliver sustained returns to their members. It also highlights a key principle of our proactive core approach, which is being prepared to sell assets. Our heritage as an opportunistic manager provides a differentiated approach for clients as we have a long and demonstrable track record of being an active and determined seller to achieve solid exit values even in softer transactional markets, as this sale demonstrates.”
Gerald Eve advised Delancey on the sale; DTRE acted for Valor Real Estate Partners.
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