Delancey Real Estate (Delancey) has announced the successful sale of Trafalgar Trading Estate in Enfield, London for c. €32.7m, reflecting a net initial yield of 3.73%. The sale is the latest divestment to have been completed on behalf of Delancey’s client, a domestic pension fund.
Trafalgar Trading Estate comprises 11 units totalling over 7,340m2 of industrial space. Located in the Brimsdown Business Area of Enfield, the site benefits from proximity to M25 (J25) and the A406 North Circular. Key occupiers include Rexel, Fairfax London, and Howdens.
The multi-let industrial park was acquired by Valor Real Estate Partners in an off-market transaction. Gerald Eve advised Delancey, while DTRE advised Valor Real Estate Partners.
Dan Berger, Director of Property and Funds at Delancey said: “This disposal provides another positive outcome for our client as part of the rebalancing of their portfolio to deliver sustained returns to their members. It also highlights a key principle of our proactive core approach, which is being prepared to sell assets. Our heritage as an opportunistic manager provides a differentiated approach for clients, as we have a long and demonstrable track record of being an active and determined seller to achieve solid exit values even in softer transactional markets, as this sale demonstrates.”
Written by Leon Goldwater for Europe Real Estate.
Image provided by Monfort.
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