Valor signs for two London sites

By Liza Helps Property Editor Logistics Matters

THE TWO sites in Enfield and Barking were bought off market with a vacant 3.49-acre site in Barking being secured for around £11.5 million  and the 79,435 ft2 Trafalgar Trading Estate in Enfield snapped up for £27.45 million from Delancey.

The company pursued the sites as part of its joint venture with QuadReal Property Group and intends to go ahead with an 86,000 ft2 best-in-class build-to-suit last mile distribution hub in Barking and looks to secure redevelopment opportunities in Enfield..

The Enfield site comprises 11 units with an average lease term of two years. Formerly managed by Delancey for a domestic pension fund, the property sale reflected a net initial yield of 3.73%. Gerald Eve advised Delancey, while DTRE advised Valor Real Estate Partners. 

The joint venture was advised Altus and SBY on the Barking acquisition.

QuadReal Property Group Senior Vice President Thomas Blangy said: “These acquisitions align with our strategy of capitalising on high-growth urban logistics markets where supply constraints and strong demand present opportunities for long-term value creation. London’s last-mile logistics sector continues to offer solid fundamentals, and through our partnership with Valor, we are well-positioned to generate sustainable returns by delivering strategically located assets that meet occupier needs in these key submarkets.”