The JV’s largest acquisition to date underscores confidence in London’s urban logistics market.
Valor Real Estate Partners (Valor), in collaboration with its joint venture (JV) partner QuadReal Property Group (QuadReal), has announced the acquisition of a prime last-mile distribution centre in Purfleet, East London. The asset, valued at approximately €154.7 million, represents the JV’s largest single-asset acquisition to date and is the largest purchase of a single-let last-mile logistics property in the UK since 2022.
Spanning approximately 58,500 square meters, the cross-docked facility is located in Dolphin Park and is leased to Tesco, with nine years remaining on the lease. This state-of-the-art distribution centre offers unique specifications for its submarket, including a site coverage of 41%, 110 loading doors, and yard depths ranging from 50 to 60 meters. The facility handles ambient goods distribution to stores across London and the southeast, with an impressive average of 800 truck movements daily and a workforce of 1,200 employees.
Strategically positioned within the M25 corridor, the distribution centre benefits from proximity to the Dartford Crossing and major ports such as Tilbury and London Gateway. With excellent road connectivity via the A13 and a 60-minute drive-time population of approximately 11.4 million, the site is ideally suited for food logistics.
This acquisition adds to the JV’s notable portfolio, bringing its total deployment across London’s urban logistics submarkets to €1.3 billion since Q4 2020.
