Valor buys London last-mile warehouses for £25m
Last-mile specialist Valor Real Estate Partners has closed a deal to buy two multi-let urban logistics assets in London for £25m.
The properties, totalling circa 72,000 sq ft of lettable space, were bought in separate deals. The acquisitions extend Valor’s UK portfolio to 5.2m sq ft across 54 assets.
In Staines, west London, Valor has acquired two facilities totalling 42,000 sq ft, which are fully let. In Merton, south-west London, Valor has acquired a 30,000 sq ft property comprising five units that are fully let to two light industrial tenants.
Last-mile specialist Valor Real Estate Partners has closed a deal to buy two multi-let urban logistics assets in London for £25m.
The properties, totalling circa 72,000 sq ft of lettable space, were bought in separate deals. The acquisitions extend Valor’s UK portfolio to 5.2m sq ft across 54 assets.
In Staines, west London, Valor has acquired two facilities totalling 42,000 sq ft, which are fully let. In Merton, south-west London, Valor has acquired a 30,000 sq ft property comprising five units that are fully let to two light industrial tenants.
Valor said new development starts in recent years have been significantly below the long-term average, with 3,700 acres of industrial land lost to alternative uses in the past two decades. As such, the London logistics market continues to be “characterised by a critical shortage of modern, fit-for-purpose space, which is underpinning strong rental growth”.
Jeremy Achkar, head of UK investments, said: “These two separate acquisitions demonstrate our continued commitment to investing in the high-growth last-mile logistics sector, across a select number of dominant UK urban centres.”
Valor was advised by SB RE and Lewis Ellis.
Photo © Valor
