26 March 2021

Advising InfraRed Capital Partners Limited on large logistic asset sale

We have advised InfraRed Capital Partners on the sale of a range of UK assets as part of a wider £250 million sale of a range of properties.

The transaction involves a portfolio of last-mile logistics assets in the UK and France to Blackstone real estate funds. The assets will be incorporated into Mileway, Blackstone’s pan-European last mile logistics platform.

The UK portfolio, totalling circa 1.6m sq ft, is located mainly in the North West near Manchester, Liverpool, Leeds and Sheffield.

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 on this sale. The need for 'last mile' space near the UK's larger urban areas is increasing, underpinned by the exponential growth of ecommerce and increased demand for efficient supply chains and quick delivery. In the past three months alone, Taylor Wessing has closed in excess of £1 billion worth of logistics deals.

Christopher Turley | Partner and head of Real Estate & Construction

The deal was led by Real Estate Partner Chris Turley and Real Estate Senior Associate Georgina Watt, and also involved lawyers from the following teams: