Valor acquires two London sites for last mile logistics

UK last mile logistics property specialist Valor has bought two new sites ultimately for conversion into logistics hubs in the London area.

The first site is a 105,000 square foot multi-let industrial estate at Mitcham Industrial Estate. It is on a prime last mile logistics location on the A216 and has direct access to the A23 and A24 within 10 minutes drive. While most of the occupiers are self-storage or DIY companies, this is likely to change with the new owners.

Valor has also bought a 2.87 acre site in Watford, close to Junction 5 of the M1 and J19 of the M25. This gives direct access to Central London and the SE of England. Both units have longer tenancies so the plans for this are longer term than the Mitcham site.

“Watford and Mitcham are two of London’s most supply constrained submarkets. These purchases both offer the ability to drive the rental tone through active asset management, which we look forward to effectuating in short order,” Valor Vice President, Jeremy Achkar, said.

Both acquisitions cost a combined £70 million and were financed by DTZ investors.

More:   Zapp to pull out of the Netherlands?