Valor Real Estate Partners has acquired Westwood Trading Estate in Park Royal, West London, from a private individual for an undisclosed price.
Developed in the 1980s, the multi-let industrial property comprises 13 units spread across two opposing terraces providing 125,000 sq ft. It is currently 70% occupied by a range of predominantly 3PL and distribution businesses.
Valor intends to undertake a comprehensive, ESG-led refurbishment programme of the four vacant units to drive the rental tone on the estate.
Timour Wielemans, vice president of Valor Real Estate Partners, said: “This was a rare opportunity to acquire, off market, a prime multi-let estate, the type of urban asset that has attracted the most liquidity over the past 12 months. The estate is under rented, which offers the opportunity to capture significant reversion over our hold period. Despite ongoing broader market volatility, we continue to source and execute on attractive investments, leveraging our capital and deal execution capabilities, which have seen us deploy £200m+ in London since the start of the year.”
Valor was advised by Simmons and CBRE.
