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DTZ Investors Delivers Strong Performance On Last Mile Estates Sales to Valor REP for £70.7 Million

19/05/2022

LONDON, 18 May 2022: DTZ Investors (DTZI) has completed the sale of two Greater London multi-let industrial estates for a combined £70.7 million to specialist industrial investor Valor Real Estate Partners. 

The combined sale price of Watford Interchange (£32.2m) and Mitcham Industrial Estate (£38.5m) represents a NIY of 2.35%. 

Watford Interchange is located a mile north-east of Watford Junction station on a 2.87 acre site and in a well-established commercial area. Excellent connectivity to the M1 and M25 provides direct access to Central London and across the South East. Comprising four well-specified warehouses, totalling 58,973 sq ft the asset is fully let to RS Components, Saniflo, Peerless AV and Hancocks Holdings. 

Mitcham Industrial Estate comprises 100,381 sq ft on 3.07 acres fronting Streatham Road (A216) and with excellent access to the A23. Its diverse tenant line-up includes Selco Trade Centres, Floorsave London and PD Self Storage, and also offers immediate reversionary potential. 
Gavin Richmond, Fund Manager at DTZ Investors, said: “The continued strength of the Greater London industrial market has presented an opportunity to exit some of our larger Greater London holdings and, in doing so, deliver attractive returns for our investors.” 

Driven by London’s population growth and the continuing consumer behavioural shift towards e-commerce, the UK logistics & industrial market has witnessed burgeoning investor and occupier demand in recent years. Following a record-breaking 2021, Cushman & Wakefield research revealed a further £6.2 billion was invested in the sector in the first quarter of 2022 with 15.8 million sq ft of occupational market take up. 
Charles Howard, Partner, Logistics & Industrial, Cushman & Wakefield, said: “These transactions illustrate the considerable capital that remains for Greater London industrial assets. Both estates offer excellent connectivity, access to Central London, and attractive reversionary potential; ideal characteristics for a wide range of last mile and urban logistics operators and strong rental growth potential.” 

Cushman & Wakefield advised DTZ Investors on both sales, with Valor REP represented by Clifton on Watford and DTRE on Mitcham. 

About Cushman & Wakefield  
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and approximately 60 countries. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, and valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.  

 

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