Valor bags Enfield site for £56m distribution warehouse
Valor Real Estate Partners has bought a 3.3-acre site in Enfield, north London, on which it plans to build a 109,000 sq ft distribution unit. The scheme has a gross development value of £56m.
The current building on the site in the Brimsdown area will be demolished and replaced with a unit built to BREEAM Excellent standard. It will have a 40m service yard and two-level access doors, and be aimed at occupiers in the 3PL and distribution sectors. Completion is expected in the second half of next year.
The vendor was a private seller.
Valor Real Estate Partners has bought a 3.3-acre site in Enfield, north London, on which it plans to build a 109,000 sq ft distribution unit. The scheme has a gross development value of £56m.
The current building on the site in the Brimsdown area will be demolished and replaced with a unit built to BREEAM Excellent standard. It will have a 40m service yard and two-level access doors, and be aimed at occupiers in the 3PL and distribution sectors. Completion is expected in the second half of next year.
The vendor was a private seller.
Following Valor’s acquisition of a 3.5-acre site in Barking last October, it brings the company’s London development pipeline to around 1m sq ft with a GDV of more than £400m.
Valor has also achieved practical completion on a 213,000 sq ft scheme in Beckton, east London (pictured), and later this month expects practical completion on a three-unit development totalling 28,500 sq ft in Wandsworth.
Valor vice president Timour Wielemans said, “This off-market acquisition underscores our ongoing commitment to expanding Valor’s development platform in London, while remaining attentive to the current economic environment. We are targeting highly selective locations, with a focus on delivering best-in-class product in supply-constrained areas.”
