Valor Real Estate Partners has acquired on behalf of its clients a 206,968 sq ft distribution asset in Milton Keynes, in an off market deal from British Asian businessman Gulu Lalvani.

Valor will immediately undertake an extensive four month refurbishment programme at the site, including a façade upgrade, full replacement of the warehouse roof, extension of the yard and office renovations. These improvement works will restore the asset to a grade A ‘shelf-ready’ product with the potential to be leased either as one larger or two smaller units.

Christian Jamison, managing partner of Valor, said:

“The deal underlines Valor’s strategy of repositioning an older but fundamentally high-quality asset with excellent specifications in a strong location.

“The asset is perfectly positioned along the M1 corridor, connecting commuter and trading links across much of the South East of England. Through the refurbishment and upgrade of the asset, we will create a prime logistics unit in the area.

“We continue to see many exciting prospects within both the UK and European industrials and logistics markets. We are in a unique position to respond quickly to capitalise on these opportunities.”

Valor was advised by JLL. Gulu Lalvani was represented by Savills and Louch Shacklock.