Valor agrees acquisition of Tera 40 industrial estate in Greenford, West London for €170m

Valor Real Estate Partners, a European last-mile real estate specialist, has agreed to terms for the acquisition of the Tera 40 industrial estate on Auriol Drive, Greenford, West London, for £146 million (€170 million/$186 million).

The estate comprises four modern distribution assets totaling 340,650 square feet that are fully let to Tesco, Palletways, Royal Mail and Micheldever. The estate sits on a 19-acre site, providing up to 285 car parking spaces.

It is located in the heart of Greenford and offers excellent road connectivity via the A40, with the North Circular (A406) and M25 (Junction 16) both within a 15-minute drive. Greenford is one of London’s most competitive industrial submarkets, with the reallocation of land for residential uses seeing total industrial stock decline more than 13 percent since 2013. Continued strong demand from ecommerce and logistics businesses in particular is supporting a low level of vacancy and driving rental growth.

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