16th November 2020
Valor/QuadReal €1BN European Last-Mile JV Completes Debut Buy

JV has Bought New England Industrial Estate in Barking.

Valor Real Estate Partners, the pan-European logistics platform, has bought the New England Industrial Estate, a six-unit, 144,000 sq ft industrial estate in Barking, East London, as the first acquisition on behalf of its recently launched joint venture with QuadReal Property Group.

The JV was formed to invest over €1bn in urban logistics assets located in key cities in the UK, France and Germany.

The New England Industrial Estate occupies is a last mile logistics location at the junction of the North Circular and A13, two of London’s major arterial routes, which can be reached in one and three minutes respectively.

The estate comprises six industrial units, ranging in size from circa 7,000 sq ft to 50,000 sq ft. Valor intends to reposition the estate as part of its business plan, it said, delivering assets that will cater to last-mile logistics operators, given the accessibility and connectivity of the location.

Launched earlier this month, Valor’s JV with QuadReal will focus primarily on urban, in-fill logistics assets located in the greater metropolitan areas of London, Paris and Berlin, with a secondary focus on major UK and EU gateway cities, such as Manchester, Lyon and Frankfurt.

Cane Napolitano, Partner, Head of Investments, at Valor, said in a statement: “This is a great opportunity to acquire a prime East London industrial property at scale and demonstrates our capital deployment capability and speed of execution for assets that fit our investment strategy. It also represents a strong start to our new JV with QuadReal.”

Jeremy Achkar, who is responsible for sourcing and executing UK transactions at Valor, added: “The acquisition furthers our commitment to continued investment in London, and adds to our growing presence in the Eastern corridor of the Capital.”

Valor was advised by Stonehill Partners and Simmons & Simmons.