Valor Real Estate Partners (Valor), Europe’s fastest-growing last mile real estate specialist, has completed the acquisition of two multi-let urban logistics assets in London, in separate transactions, for c. €29.3m.
The modern properties, which are highly reversionary and offer a total of c. 6,689m2 of lettable space, are located in established industrial submarkets. They extend Valor's UK portfolio to 54 assets across 482,000m2, in what is Europe's dominant e-commerce centre.
In Staines, West London, Valor has acquired two units with a total area of 3,901m2, which are fully let to two distribution businesses. In Merton, South West London, Valor has acquired a 2,787m2 property comprising five units, which are fully let to two light industrial tenants. Both assets benefit from excellent arterial connectivity.
With new development is starting in recent years significantly below the long-term average and 1,500ha of industrial land lost to alternative uses in the last 20 years, the London logistics market continues to be characterized by a critical shortage of modern, fit-for-purpose space, which is underpinning strong rental growth.
Jeremy Achkar, Head of UK Investments, commented: “These two separate acquisitions demonstrate our continued commitment to investing in the high growth last-mile logistics sector, across a select number of dominant UK urban centres.”
Across the transactions, Valor was advised by SB RE and Lewis Ellis.
Image provided by FTI Consulting.
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