Pan-European logistics platform Valor Real Estate Partners has completed on five separate acquisitions across Greater London, for a combined transaction volume in excess of £50 mln (€56 mln).
The transactions comprise: a 105,000 ft2 (9,750 m2) single unit in Weybridge, a 17,000 ft2 small-bay multi-let estate and 18,000 ft2 single-let low-site cover warehouse in Canning Town, a 40,000 ft2 single distribution unit in Sunbury and a 10,000 ft2 single-let unit in Park Royal.
Jeremy Achkar, UK transactions lead at Valor, commented: 'This flurry of deals demonstrates not only our continued ability to source and execute transactions in a competitive investment environment, but also our willingness to deploy capital across the risk spectrum in different Greater London submarkets.'
The Weybridge property, close to Heathrow Airport and Central London, sits on a 5.24-acre (2.12 ha) site and is currently vacant. Valor intends to undertake a refurbishment programme, with the completed Grade-A property likely to appeal to e-commerce occupiers.
Valor also plans to refurbish the low-site cover unit in Canning Town, while the small-bay estate there is currently let to a mixture of tenants. The Sunbury asset is let to a video collaboration services tenant and benefits from excellent connectivity to the M25, M3 and M4 motorways.
The fifth asset at Park Royal, London’s largest business park, is fully let to a tenant in the food industry until March 2022.
Valor currently manages an 80+ asset portfolio totalling more than six million ft2 of urban logistics, primarily located in London and Paris, which is well positioned to benefit from the acceleration of ecommerce and urbanisation.
Valor was advised by Stonehill Partners, Greenberry Advisors, BNP Paribas, De Souza Commercial Property Advisors, Simmons & Simmons and Greenberg Traurig.
