Melburg Capital Ltd – the privately owned real estate investment and development company – announces the sale of Swan Lane Industrial Estate, Wigan to a private family office.
Melburg acquired the 300,000 sq ft industrial estate off-market in 2020 as part of a sale and leaseback with the owners of domestic appliance producer G2S Limited for £8.75m.
Following their acquisition Melburg repositioned the estate within a 24-month window through tenant engineering and close-quarter asset management. In so doing their team of skilled management specialists leased 100% of the estate, increased the passing rents by 55% and moved the WAULT from 3.00 to 6.23 years.
The sale follows a period of significant activity for the highly discreet investment specialist, having acquired in excess of 2 million sq ft of industrial assets, released plans for one of Bristol largest regeneration sites, with 880 new homes set to replace the Broadwalk Shopping Centre, and discreetly divested from £150m of assets including Warehouse K, London, Maxmor House, Dartford and 14-18 Belgrave Gate, Leicester.
Melburg CEO Jack Burgess commented; “The life cycle of Swan Lane highlights the platforms ability to identify off-market value propositions, understand occupiers operational drivers, quickly execute complex management initiatives and realise exceptional risk-adjusted returns. The proceeds from the sale will be redeployed into similar opportunities”
Tudor Real Estate, Cushman & Wakefield and Colliers International advised Melburg. Lambert Smith Hampton acted for the purchaser.