Valor Real Estate Partners has acquired a purpose built, multi-let industrial estate in Edmonton, North London, from HBD for approximately £20m.
The 58,449 sq ft Workstown estate, which was built in 2021, comprises nine units spread across two terraces. The estate is currently 80% let to three wholesale businesses.
Jeremy Achkar, senior vice president of Valor, said: “This acquisition underscores our market leading ability to identify and then secure highly functional, multi-let industrial assets in core London submarkets, with attractive rental growth prospects. As consumer spending habits in Europe’s dominant metropolitan drive evolving real estate requirements from a range of occupiers, Workstown is a rare example of a new development delivering the type of space – purpose built with excellent connectivity – required to address what continues to be a critically undersupplied part of the market.”
Lewis Ellis advised Valor and Cushman & Wakefield acted for HBD.
