Valor Real Estate Partners has acquired a seven-acre site in Mitcham with the intention to redevelop the existing 110,000ft² industrial estate into a grade A logistics park. Subject to planning permission, Valor intends to create a c.150,000ft² multi-let estate, although it is also considering the potential to let to a single tenant. The purchase price was not disclosed. Valor was advised by Dominic Whitfield and Savills, while the seller was advised by Robert Bradley Smith and Altus Group.
Cane Napolitano, principal at Valor said: “The site should benefit from the intensification of existing residential land use in the surrounding area, through both the Merton Regeneration Project and Develop Croydon.”
