Real estate specialist Valor Real Estate Partners (Valor) with QuadReal Property Group has acquired a last mile distribution centre in Purfleet, East London, for £130m.
The 630,000ft² cross-docked distribution centre on Dolphin Park is let to Tesco, with nine years remaining to lease expiry.
The unit serves as a distribution and storage facility for ambient goods to stores across London and the southeast, with an average of 800 truck movements per day, and 1,200 employees working at the facility.
The asset is located in the M25 corridor, close to the Dartford Crossing and the major ports at Tilbury
and London Gateway, making it ideally-suited for food distribution.
The transaction takes the amount deployed by the JV across key London urban logistics submarkets to
£1.1bn since Q4 2020.
Senior vice president at Valor Jeremy Achkar said: “This transaction represents a rare opportunity
to acquire a core urban logistics asset of scale in one of London’s most competitive submarkets in the
M25 corridor and close to major ports.
“It is further evidence of our ability to identify and execute opportunities through the market cycle.”
