Delancey Real Estate has sold Trafalgar Trading Estate in Enfield, London, to Valor Real Estate Partners for £27.45m, reflecting a net initial yield of 3.73%.
The trading estate, which is located close to the M25 and the A406 North Circular, comprises 11 units offering more than 79,000 sq ft of industrial space. Key tenants include Rexel, Fairfax London and Howdens. Delancey sold the asset on behalf of a domestic pension fund client.
Dan Berger, director of property and funds at Delancey, said: “This disposal provides another positive outcome for our client as part of the rebalancing of their portfolio to deliver sustained returns to their members. It also highlights a key principle of our proactive core approach which is being prepared to sell assets.
“Our heritage as an opportunistic manager provides a differentiated approach for clients as we have a long and demonstrable track record of being an active and determined seller to achieve solid exit values even in softer transactional markets, as this sale demonstrates.”
Gerald Eve advised Delancey and DTRE advised Valor Real Estate Partners.
