Valor Real Estate Partners has completed on five separate acquisitions across Greater London, for a combined transaction volume in excess of €56.3m (£50m). The transactions comprise a c. 105,000ft² single unit in Weybridge, a c. 17,000ft² small-bay multi-let estate and c. 18,000ft² single-let low site cover warehouse in Canning Town, a c. 40,000ft² single distribution unit in Sunbury and a c. 10,000ft² single-let unit in Park Royal.
The Weybridge property sits on a 5.24-acre site and is currently vacant. Valor intends to undertake a refurbishment programme, with the completed Grade-A property appealing to a range of e-commerce occupiers. Located in the centre of Weybridge, the property benefits from its proximity to Heathrow Airport and Central London, which can both be accessed within 30 minutes’ drive time, whilst its appeal to e-commerce occupiers is further enhanced by the 1.9 million people living within a 40-minute drive.
In Canning Town, an industrial submarket that has experienced significant rental growth in recent years as a consequence of the cannibalisation of warehousing land in East London, Valor has acquired a low-site cover unit which is vacant and undergoing a refurbishment program, alongside a small-bay estate currently let to a mixture of tenants.
In a fourth transaction, Valor has acquired a unit currently let to a leading global specialist in video collaboration services in Sunbury, which benefits from excellent connectivity to the M25, M3 and M4 motorways, providing direct access to the affluent South-West London demographic.
Park Royal is London’s largest business park and is often referred to as the Capital’s “Breadbasket”, resulting from its strategic location for freight distribution and commuting workers. The final unit acquired is fully let to a tenant in the Food industry until March 2022.
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.”