Valor adds €300m of London assets to portfolio

Valor Real Estate Partners (Valor) has expanded its footprint in London by adding 500,000 sq ft (46,450 m2) of industrial space with six acquisitions in core London sub-markets for a total consideration of £250 mln (€297 mln).

The transactions include the acquisition of Gemini Park, located in Beckon and comprising 14 Grade A industrial buildings, ranging in size from 13,000 to 115,000 sq ft. The buildings, developed in 2007, are let to blue-chip occupiers including Hermes, Fedex and Royal Mail.

Valor, which acquired 1.64 acres of land on the estate for development in 2021 in a separate transaction, intends to deliver additional storage space and bring forward a phased refurbishment of the existing buildings.
In Hackney, Valor has agreed a sale and leaseback with a private food distribution business for a 29,000 sq ft industrial estate comprising three separate buildings. The estate sits either side of the A12, just 4 miles from the City of London and close to the Olympic Park. Valor will progress a full refurbishment of the development of the site upon expiry of the lease in 2023.
In Charlton, South East London, Valor has agreed a 24-month sale and leaseback with a private utilities business for a 10,000 sq ft low site cover warehouse unit. The asset is located in the Charlton Riverside regeneration area, which comprises 275-acres of former industrial land that has been reallocated to deliver 8,000 new homes and other employment uses.
Valor has also completed the off-market purchase of a 38,400 sq ft industrial estate in Bermondsey, South East London, from a private seller. The estate, which is fully let to an independent self-storage business, offers excellent connectivity to South London, as well as the City of London and Canary Wharf, with a population of over 2 million people reachable within 20 minutes’ drive.
Finally, in Wandsworth, South West London, Valor has completed the acquisition of 1.1-acres of brownfield land. Valor intends to deliver a modern industrial estate on the site, comprising 28,000 sq ft across six new buildings and yard space for vehicular access, to meet demand from last-mile distribution businesses.
Jeremy Achkar, UK transactions lead at Valor, commented: ‘These transactions significantly expand our London footprint and underline our ability to identify and execute opportunities in highly competitive sub-markets. London, the most advanced ecommerce market in Europe, is set to experience significant population growth and at the same time faces a shortage of industrial land as areas are allocated for housing or mixed-use regeneration. This suggests demand will continue to be very strong for modern last-mile facilities and the tightening of availability will drive further rental growth moving forward.’


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