Valor Real Estate Partners has acquired Westwood Trading Estate, a multi-let industrial property in Park Royal, West London, from a private individual.
Developed in the 1980s, the estate comprises two opposing terraces totalling 125,000ft² across 13 units, all featuring excellent specifications for the submarket.
It is currently 70% occupied by a range of predominantly 3PL and distribution businesses.
Valor intends to undertake a ESG-led refurbishment programme of the four vacant units to drive the rental tone on the estate.
The estate is located within the wider Park Royal urban industrial area, in proximity to both the North Circular and A40.
Valor Real Estate Partners vice president, Timour Wielemans, 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 £200+ million in London since the start of the year.”
