Valor Real Estate Partners, acting on behalf of its clients, has completed the off-market acquisition of a c.33,000ft² vacant Class A asset located at 13 Lombard Road, Merton, South London. Situated in a supply-constrained logistics location with excellent access to Central London via the A24 road, the purchase presents a strong addition to Valor’s expanding London portfolio.
The asset, built in 2007, benefits from a modern image, 4 level access doors and a minimum eaves height of 9.5m. The company intends to reposition the property by adding 2 level access doors to the southern façade, which will improve the overall functionality of the asset and cater to the submarket’s vast depth of demand from high throughput, last mile operators.
Valor has now acquired €326.3m (£280m) of logistics assets in greater London. The purchase price was not disclosed.
Cane Napolitano, Principal at Valor commented: “The acquisition of Lombard Road, Merton represents Valor’s third acquisition of 2019 within the urban submarkets of London’s transit zones 2-4. Reinforcing our core commitment to acquiring assets in high barrier to entry markets which cater to the rapidly expanding ‘direct to consumer’ distribution patterns within the logistics sector.”
