Melburg Capital has closed a £22m refinancing deal with National Westminster Bank involving two of its logistics assets in Wakefield, Yorkshire.
Melburg acquired Voltaic at Wakefield 41 Industrial Park and Sirdar Business Park in an off-market transaction in Q1 2022. It subsequently secured Yorkshire’s largest prelet of 2023 at Voltaic, with XPO Logistics signing a 10-year lease on the 210,000 sq ft facility.
Sirdar Business Park is now fully occupied, with eight lease renewals and lettings signed since the acquisition.
Helen Blair, chief financial officer at Melburg, said: “The speed of this refinance reflects the efficiency of our management platform, who have been able to transform the income characteristics of both assets within a short window, and in so doing increase asset values by over 30%. We look forward to building on our wider relationship with Natwest as we continue to organically grow and diversify our real estate exposure.”
Photo from Melburg Capital
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