Valor completes London portfolio acquisition for €82m

Last-mile real estate specialist Valor Real Estate Partners has completed a portfolio acquisition in London, comprising six urban warehouse assets for a total of £70 mln (€82 mln).

The assets, which offer short-term refurbishment potential and comprise 157,000 ft2 (14,585 m2) in total, have been acquired from the Milton Group, a privately-owned development and construction company.

The portfolio includes a single warehouse unit in Beckton, one of East London’s most competitive sub-markets, which was subject to a full refurbishment in 2020, and an industrial estate in Byfleet, South-West London, comprising two warehouse units. Both assets are let to BSS Group, a distributor of heating and mechanical services equipment.

Jeremy Achkar, vice president of investments, Valor commented: 'This transaction represents a rare opportunity to aggregate scale and geographic diversification in London’s highly competitive and granular urban infill sub-markets.'

In Thurrock, adjacent to the M25, Valor has acquired a unit currently let to local independent insulation business, and also in East London, in Belvedere, it has acquired a unit let to Illusion Design & Construct, a leading manufacturer of scenery for the entertainment industry.

The portfolio also includes a unit occupied by Travis Perkins in Borehamwood, North London, and Norbiton industrial estate, located adjacent to Norbiton rail station and Richmond Park.

The transaction means Valor has now deployed around £1 bn in London since the start of 2021.

The company, formed in 2016, is a pan-European specialist in last-mile urban logistics and has amassed a €3 bn portfolio across Europe, primarily located in the key gateway cities of London, Paris and Berlin.

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