Asset manager Valor Real Estate Partners has acquired a vacant, prime logistics assets in South London on behalf of clients.
Financial details were not disclosed.
The 33,000 ft2 asset located at 13 Lombard Road, Merton, has direct access to Central London via the A24 road.
Cane Napolitano, principal at Valor commented:
‘The acquisition of Lombard Road, Merton represents Valor’s third acquisition of 2019 within the urban submarkets of London’s transit zones 2-4.
Reinforcing our core commitment to acquiring assets in high barrier to entry markets which cater to the rapidly expanding ‘direct to consumer’ distribution patterns within the logistics sector.’
Valor has now acquired in excess of £280 mln of logistics assets in greater London since Q4 2016, according to the firm, as part of a broader pan-European strategy that has seen Valor amass more than €550 mln of in-fill logistics assets across 20 transactions in the UK, France and Germany.
The asset, built in 2007, includes four level access doors and a minimum eaves height of 9.5 metres. Valor intends to reposition the Asset by adding two level access doors to the southern façade, catering to the submarket’s demand from last mile operators.
Valor was advised by Levy.