Valor increases East London urban logistics footprint with acquisition of Dorma Trading Park
Valor Real Estate Partners (Valor), a pan-European urban logistics platform, has completed the acquisition of an urban logistics asset in Leyton, E10.
It further expands Valor’s footprint in East London, which now totals eight assets across in the prime logistics locations of Canning Town, Barking, Beckton and now Leyton.
The asset, Dorma Trading Park, comprises 24,000 sq ft of modern logistics space on a 1.26-acre plot located in the heart of Leyton, within 6 miles and 23 minutes’ drive of central London. Acquired from the previous occupier Hoo Hing, a food wholesaler, Valor intends to reposition the asset to cater to last-mile logistics operators, given the accessibility and connectivity of the location.
Leyton is located in the submarket of Waltham Forest which is characterised by low availability of modern urban logistics space and has seen rents increase by a cumulative 40 per cent between 2015 and 2020, driven by demand from ecommerce and food delivery businesses. The submarket is located close to East London’s major urban regeneration schemes, including the Queen Elizabeth Olympic Park, where the development of new infrastructure, homes and workspace on former industrial land will increase population density and underpin demand for last-mile delivery.
Valor is a specialist urban logistics platform primarily focused on London and Paris, which has established a EUR1 billion portfolio comprising over 90 assets and 6 million sq ft in just over four years.
Jeremy Achkar, UK Transactions Lead at Valor, says: “This acquisition demonstrates our ability to identify and navigate opportunities with planning complexities. This asset is ideally suited to serve a large catchment for last-mile delivery, in particular food delivery, providing easy access to central London and the wider metropolitan area. This deal represents our first purchase in the borough of Waltham Forest, where we hope to expand our footprint in the coming years.”
Valor was advised by Doherty Baines and Simmons & Simmons.