Melburg Capital (Melburg) announce the acquisition of the Bekaert manufacturing HQ, a 110,000 sq ft industrial asset located on Park House Road, Bradford in an off-market transaction.
The asset was acquired with a short-term lease expiry to Bekaert, the world’s largest steel wire manufacturer. In advance of completion Melburg re-structured the lease, resulting in the €5.0Bn turnover business signing a 15-year commitment with 2-5% RPI indexation.
The acquisition is Melburg’s eleventh within the last 12 months, taking their total spend to over £1Bn as the highly discreet privately owned real estate investment and development company continues to increase its logistics presence, which now exceeds 2 million sq ft throughout the UK.
Melburg chief executive Jack Burgess commented: “As a key employer Bekaert’s long term commitment to their Bradford HQ is hugely positive for the area. The business itself is thriving, posting a year on year revenue increase of 28.00% to €5Bn. With double digit operating margins and €791 million of cash on hand the balance sheet growth prospects are compelling. The physical real estate is ideally located and we look forward to working collaboratively with Bekaert to continue to optimise the facilities operations”
Melburg was advised by Newson Real Estate.