Pan-European logistics investor Valor Real Estate Partners has added 500,000 sq ft of industrial space to its portfolio with the acquisition of six properties for £250m.
Properties include the Gemini Park in Beckton, E6, which comprises 14 grade-A industrial buildings, ranging in size from 13,000 sq ft to 115,000 sq ft. The buildings, developed in 2007, benefit from large yard spaces and clear heights of between 7m and 10m, and are let to blue-chip occupiers including Hermes, Fedex and Royal Mail.
Valor, which acquired 1.64 acres of land on the estate for development in 2021 in a separate transaction, said it plans to deliver additional storage space and bring forward a phased refurbishment of the existing buildings.
In Hackney, Valor has agreed a sale-and-leaseback with a private food distribution business for a 29,000 sq ft industrial estate comprising three separate buildings. The estate sits either side of the A12, just 4 miles from the City of London and close to the Olympic Park. Valor said it would undertake a full refurbishment of the site upon expiry of the lease in 2023.
In Charlton, south-east London, Valor has agreed a 24-month sale-and-leaseback with a private utilities business for a 10,000 sq ft low site cover warehouse unit, while in Bermondsey, SE1, the firm has bought a 38,400 sq ft industrial estate from a private seller.
And in Wandsworth, south-west London, Valor has completed the acquisition of 1.1 acres of brownfield land where it plans to develop a 28,000 sq ft industrial estate comprising six buildings.
Jeremy Achkar, UK transactions lead at Valor, said: “These transactions significantly expand our London footprint and underline our ability to identify and execute opportunities in highly competitive submarkets.
“London, the most advanced e-commerce market in Europe, is set to experience significant population growth and at the same time faces a shortage of industrial land as areas are allocated for housing or mixed-use regeneration. This suggests demand will continue to be very strong for modern last-mile facilities and the tightening of availability will drive further rental growth moving forward.”
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