Melburg Capital has secured a £22m senior loan from NatWest for the refinancing of logistics assets including Voltaic, Wakefield 41 Industrial Park, and Sirdar Business Park in Wakefield.
Melburg acquired both assets in an off-market transaction in Q1 of 2022 and subsequently secured a 210,000 sq ft pre-let to XPO Logistics at Voltaic (pictured).
Sirdar Business Park, which is currently full, has been subject to significant management intervention, with Melburg completing eight lease renewals and lettings since it acquired the asset.
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”
