UK investor, asset and development manager Delancey Real Estate has closed the sale of Trafalgar Trading Estate in Enfield, London for £27.45 mln (€32.8 mln), reflecting a net initial yield of 3.73%.
The property was sold in an off-market transaction to logistics investor Valor Real Estate Partners on behalf a domestic pension fund client.
Trafalgar Trading Estate comprises 11 units totalling over 79,000 ft2 of industrial space. Key occupiers include Rexel, Fairfax London, and Howdens.
Commenting on the sale, 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.’
He added: ‘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.’
Gerald Eve advised Delancey on the sale, while DTRE advised Valor Real Estate Partners.
