8 August 2019
Taylor Wessing has advised InfraRed Capital Partners Limited ("InfraRed") on its £20 million acquisition of a 105,000 sq ft (c. 9,755 m²) multi-let industrial estate.
The estate is located in Sidcup, in the south east of Greater London.
The acquisition marks the start of InfraRed’s recent £200m commitment to its Core+ urban logistics strategy and will aim to capture the increasing demand for warehousing space near large and growing metropolitan areas.
Commenting on the transaction, real estate partner and head of the Real estate & construction group, Christopher Turley said: "Fuelled by the continued growth of ecommerce and a demand for efficient supply chains and faster delivery times, the need for 'last mile' space near the UK's larger urban areas is increasing. InfraRed has a fantastic track record in identifying trends and market needs in the logistics sector and we are delighted to have been able to work with InfraRed again on their first acquisition in its new Core+ urban logistics strategy."
James Cooper, Director at InfraRed Capital Partners, added: "Expanding urbanisation and the growing need for ‘last mile’ delivery infrastructure, particularly in city fringe locations, has been accelerating occupier demand. We have a track record of 25 years of investing in multi-let industrial buildings and the team at Taylor Wessing provided excellent advice throughout this deal. They helped us navigate a range of complex issues, underlining their position as a firm that truly understands the sector."
The team was led by real estate partner Christopher Turley and senior associate Georgina Watt.