European urban logistics platform Valor Real Estate Partners has completed the acquisition of an urban logistics asset in Leyton, East London, for an undisclosed amount.
The asset, Dorma Trading Park, comprises 24,000 sq ft (2,230 m2) of modern logistics space on a 1.26-acre plot located in the heart of Leyton, within 6 miles and 23 minutes’ drive of central London. Acquired from the previous occupier Hoo Hing, a food wholesaler, Valor intends to reposition the asset to cater to last-mile logistics operators, given the accessibility and connectivity of the location.
Valor is a specialist urban logistics platform primarily focused on London and Paris, which has established a €1 bn portfolio comprising over 90 assets and 6 million sq ft in just over four years.
Jeremy Achkar, UK transactions lead at Valor, commented: ‘This acquisition demonstrates our ability to identify and navigate opportunities with planning complexities. This asset is ideally suited to serve a large catchment for last-mile delivery, in particular food delivery, providing easy access to central London and the wider metropolitan area. This deal represents our first purchase in the borough of Waltham Forest, where we hope to expand our footprint in the coming years.’
Valor was advised by Doherty Baines and Simmons & Simmons.
