Pan-European logistics investor Valor Real Estate Partners pid more than £50 million for five separate warehouses across Greater London.
The transactions comprise: a 105,000 sq ft single unit in Weybridge, a 17,000 sq ft small-bay multi-let estate and 18,000 sq ft single-let low site cover warehouse in Canning Town, as well as a 40,000 sq ft single distribution unit in Sunbury and a 10,000 sq ft single-let unit in Park Royal.
The investor plans to refurbish the empty properties to capitalise on the demand for well located urban warehouses in London and the South east these include the Weybridge property, which sits on a 5.24-acre site, the property in Canning Town that has 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.
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.”
Valor was advised by Stonehill Partners, Greenberry Advisors, BNP Paribas, De Souza Commercial Property Advisors, Simmons & Simmons and Greenberg Traurig.