Valor Real Estate Partners has acquired a seven-acre site in Mitcham with the intention to redevelop the existing 110,000 sq ft industrial estate into a grade A logistics park.
Subject to planning permission, Valor intends to create a c.150,000 sq ft multi-let estate, although it is also considering the potential to let to a single tenant.
Cane Napolitano, principal at Valor said:
“The site should benefit from the intensification of existing residential land use in the surrounding area, through both the Merton Regeneration Project and Develop Croydon.”
Valor was advised by Dominic Whitfield and Savills, while the seller was advised by Robert Bradley Smith and Altus Group.