InfraRed buys Sidcup industrial estate
InfraRed Capital Partners has launched its £200m core-plus, urban logistics programme with an acquisition in Sidcup, Greater London.
InfraRed acquired the 105,000 sq ft multi-let industrial estate for circa £20m.
The investment manager’s £200m strategy aims to capture growing occupier demand for warehousing space near large and growing metropolitan areas.
InfraRed Capital Partners has launched its £200m core-plus, urban logistics programme with an acquisition in Sidcup, Greater London.
InfraRed acquired the 105,000 sq ft multi-let industrial estate for circa £20m.
The investment manager’s £200m strategy aims to capture growing occupier demand for warehousing space near large and growing metropolitan areas.
James Cooper, director at InfraRed Capital Partners, said: “We are seeing a clear trend towards more intensive and higher value uses in these buildings. This not only includes last mile servicing and click and collect, but also leisure, food preparation and other services, providing the basis for superior rental performance.”
Henry Giles, portfolio manager at InfraRed Capital Partners for its core-plus urban logistics strategy, said: “This acquisition is in line with our programme of targeting highly reversionary assets in metropolitan areas, with material potential for income growth.
“The estate is particularly well placed to benefit from its excellent connectivity linking London with key UK ports. We intend to carry out an active management plan to unlock embedded value and to grow income distribution. This will include upgrading the overall estate management, improving the quality of the units, and renewing leases with superior terms.”
Colliers, Taylor Wessing and Paragon acted for InfraRed on the Sidcup deal.
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