Finance agreement kickstarts Becton scheme

By Liza Helps Property Editor Logistics Matters

LAST MILE real estate specialist Valor Real Estate has secured the five year debt facility with BGO to develop the four unit high-specification, sustainable last mile logistics estate in Beckton. It is the first transaction between the two parties.

The facility will enable Valor to refinance the original acquisition of the 10-acre site and develop the four self-contained logistics units ranging from 27,000 ft2 to 80,000 ft2. 

The development, which is due to complete in Q4 2024, is targeting a BREEAM ‘Excellent’ certification and will incorporate market-leading sustainability features including high-efficiency LED lighting, roof-mounted PV panels, occupancy sensors, air-sourced heat pumps, electric vehicle charging points and cycle storage facilities. 

Valor assembled the estate via two off-market acquisitions from separate owners and received planning consent for the development earlier this year. It is located at the intersection of the North Circular and the A13.

Valor was advised by Simmons & Simmons, Ogier, Town Legal,Montagu Evans, Quod and Lockton. BGO was advised by Goodwin Procter, Hollis, Savills and PwC.