Valor and QuadReal accelerate London urban logistics deployment and extend development pipeline with c. £60 million Barking and Enfield acquisitions
Valor Real Estate Partners (“Valor”), Europe’s fastest growing last mile real estate specialist, has acquired, on behalf of its joint venture with QuadReal Property Group (“QuadReal”), a global real estate investment, operating and development company, two prime last mile logistics sites in Barking and Enfield, London, with a total GDV of £60 million. Both properties were acquired off market.
In Enfield, North London, the joint venture has acquired, Trafalgar Trading Estate, Enfield’s pre-eminent multi-let industrial park. The 79,435 square foot property benefits from strong specifications and totals 11 units across three terraced buildings. It is 92% occupied by a range of trade counter and last mile businesses, with an average lease term of two years. Located at the base of the M1 motorway and A10 trunk road, it provides access to approximately 6.4 million people within a 60-minute drive.
In Barking, East London, the joint venture has acquired a currently vacant 3.49-acre site, where it intends to develop a best-in-class build-to-suit last mile distribution hub. Occupiers will benefit from excellent connectivity via the nearby A13 and North Circular, as well as Barking’s position as one of London’s major industrial centres, where ongoing residential-led regeneration projects, including Barking Riverside, are set to continue eroding supply.
Jeremy Achkar, Senior Vice President at Valor, added: “The off-market purchase of the Trafalgar Trading Estate represents our first acquisition in Enfield. It is one of London’s key industrial submarkets, and we look forward to growing our presence there in the coming years.”
Timour Wielemans, Vice President at Valor, commented: “We are thrilled to have secured this prime 3.5-acre site, which extends our London development pipeline past 700,000 sq ft and where the intention is to deliver our first build-to-suit scheme. Leveraging our new in-house development team, we are well-positioned to take on increasingly complex projects and deliver bespoke products that align with the needs of our occupiers.”
Thomas Blangy, Senior Vice President at QuadReal Property Group, 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.”
The joint venture was advised Altus and SBY on the Barking acquisition.
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 $77.6 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.