-Transaction is largest of a single-let last mile asset in the UK since 2022-

Valor Real Estate Partners (“Valor”), Europe’s fastest growing last mile real estate specialist, has acquired, on behalf of its joint venture (the “JV”) with QuadReal Property Group (“QuadReal”), a global real estate investment, operating and development company, a prime last mile distribution centre in Purfleet, East London, for c.£130 million. It represents the JV’s largest single asset acquisition to date, and largest of a single-let last mile asset in the UK since 2022.

The 630,000 sq ft cross-docked distribution centre on Dolphin Park is let to Tesco, with nine years remaining to lease expiry.

The building provides unique specifications for the submarket with 41% site coverage, 110 loading doors and yard depths ranging from 50m to 60m. The unit serves as a distribution and storage facility for ambient goods to stores across London and the southeast, with an average of 800 truck movements per day, and 1,200 employees working at the facility.

The asset is located in the M25 corridor, close to the Dartford Crossing and the major ports at Tilbury and London Gateway, making it ideally-suited for food distribution. It offers excellent connectivity to the road network via the A13 with a population of c. 11.4 million accessible within a 60-minute drive-time.

The transaction takes the amount deployed by the JV across key London urban logistics submarkets to £1.1bn since Q4 2020.

Jeremy Achkar, Senior Vice President at Valor, added: “This transaction represents a rare opportunity to acquire a core urban logistics asset of scale in one of London’s most competitive submarkets in the M25 corridor and close to major ports. It is further evidence of our ability to identify and execute opportunities through the market cycle.”

Thomas Blangy, Senior Vice President at QuadReal Property Group, said: “Our long-term investment strategy targets high-growth urban logistics hubs and this transaction expands our allocation within a globally resilient and high-performing asset class.”

Contacts
FTI Consulting (Valor)
Richard Gotla, Andrew Scorgie
0203 727 1575
[email protected]

FTI Consulting (QuadReal)
Giles Barrie
0779 892 6814
[email protected]

About Valor REP

Valor Real Estate Partners LLP (“Valor”) is a pan-European industrial platform, headquartered in London, focused on urban/infill industrial and logistics properties in the UK, France, Germany, Benelux, Spain and Italy.

Founded in 2016, Valor is a full-service development management and investment business with offices in London, Paris and Berlin. Today the Company manages a c.200 asset portfolio totalling more than 13.5 million sq ft and more than €3.5bn of AUM on behalf of a number of global investors.

For further information please email [email protected] or visit http://www.valorrep.com

About QuadReal Property Group

QuadReal Property Group is a global real estate investment, operating and development company headquartered in Vancouver, British Columbia. Its assets under management are $85 billion. From its foundation in Canada as a full-service real estate operating company, QuadReal has expanded its capabilities to invest in equity and debt in both the public and private markets. QuadReal invests directly, via programmatic partnerships and through operating platforms in which it holds an ownership interest.

QuadReal seeks to deliver strong investment returns while creating sustainable environments that bring value to the people and communities it serves. Now and for generations to come.

QuadReal: Excellence lives here.

www.quadreal.com