Last-mile specialist Valor Real Estate Partners has acquired a prime urban logistics asset in Park Royal, West London for 40 mln (€47 mln) from a private vendor.
The asset comprises 55,000 ft2 (5,100 m2) of high-quality warehouse space across two units that are currently fully-let to independent food production and wholesale businesses.
Gavin Quinn, senior vice president, Valor, commented: 'Park Royal is one of London’s most strategically important urban logistics locations and is characterised by very low availability and a lack of developable land.
'This is a high-quality asset in a highly desirable and competitive location for businesses in the ecommerce and food distribution sectors.'
Park Royal, which is located close to Heathrow Airport and is well connected to central London via the A40 and North Circular, is of London’s most mature last-mile distribution sub-markets.
It is commonly known as ‘London’s bread basket’ and is a hub for food production and distribution, and will benefit from the arrival of High Speed 2, the new rail line that will connect London and Birmingham.
The acquisition continues Valor’s rapid growth in London, where it has deployed more than £800 mln since the start of 2021.
The company, formed in 2016, is a pan-European specialist in last-mile urban logistics and has amassed a €3 bn portfolio across Europe, primarily located in the key gateway cities of London, Paris and Berlin.
Valor was advised by Gerald Eve.
