Valor bought a 105,000 sq ft multi-let industrial estate at Mitcham Industrial Estate. It occupies a prime last mile logistics location on the A216, providing direct access to the A23 and A24 in less than 10 minutes’ drive. Today, most of the occupiers are self-storage or DIY operators, but that is likely to change.
In Watford, Valor has acquired a 2.87 acre site close to the junction 5 of the M1 and junction 19 of the M25, meaning direct access to central London and across the South East. This is a longer-term project, since the four uinits are let on long-term tenancies.
“Watford and Mitcham are two of London’s most supply constrained submarkets. These purchases both offer the ability to drive the rental tone through active asset management, which we look forward to effectuating in short order,” Valor Vice President, Jeremy Achkar, said.
The buys, both from DTZ Investors, cost £70 million.