Melburg Capital has completed a £10m refinancing deal with Coutts on a 110,000 sq ft industrial asset located in Bradford, West Yorkshire.
Melburg acquired the asset, which is let to wire steel manufacturer Bekaert, in an off-market transaction in Q3 2022.
In advance of completion, Melburg re-structured Bekaert’s lease, with the manufacturer signing a 15-year commitment with 2-5% RPI indexation.
Helen Blair, chief financial officer at Melburg Capital, said: “We look forward to building on our wider relationship with Coutts, whose approach continues to enable our speed of execution. The transaction is a great example of the teams ability to identify off-market assets, execute management initiatives quickly and in so doing stabilise future income. Bekaert is aligned with our environmental targets, placing sustainability at the core of its operations.
“The business has been accepted to join other leaders supporting the Business Ambition for 1.5°C campaign, targeting net zero emissions by 2050 whilst also becoming a member of the UN Climate Champions’ Race to Zero. We are proud to partner with them and support their continued endeavours”
