InfraRed Capital Partners has marked its core-plus urban logistics investment programme with the acquisition of a £20m (€22m) London asset.

The institutional fund manager said the acquisition of the 105,000sqft multi-let industrial estate in Sidcup, begins the deployment of InfraRed’s recent £200m commitment to its core-plus urban logistics strategy.

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: “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.”