Private equity real estate investor Paloma Capital and its development partner Graftongate have completed a deal to sell a north London urban logistics scheme, two years after clinching planning for the speculative development.

CoStar News understands that Paloma and Graftongate have sold Urban Logistics Tottenham for around £31 million to an undisclosed buyer. The scheme, totalling 65,000 square feet, comprises seven units and is on the corner of Brantwood Road and Willoughby Lane. DTRE acted for the buyer.

The buildings, completed earlier this year, range from 6,320 square feet to 36,970 square feet and sit on a 2.31-acre site. Sustainability features include BREEAM ‘Excellent' and EPC ‘A’ ratings, as well as PV panels and EV charging. Paloma Capital and Graftongate acquired the site from Lifestory in 2021, read here.

Urban Logistics Tottenham is in the Brantwood Strategic Industrial Location and makes up part of the wider Central Leeside employment area. It is a 30-minute drive to central London and has access to the A406 North Circular via Angel Edmonton Road and junction 25 of the M25.

It is one of a number of schemes that Paloma and Graftongate have worked on, with the partners also building a £25 million trade and mid-box scheme in Bedfordshire, read here. Acquired in September, it will be the fourth development between the partners and follows Banbury 200 and Exeter Trade Park in Marsh Barton.

Graftongate and DTRE declined to comment, while Paloma Capital was approached for comment. Kimmre acted for Paloma.

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