Melburg Capital has sold the 110,000 sq ft UK headquarters of steel wire manufacturer Bekaert on Park House Road, Bradford, for an undisclosed price.
The asset was acquired in 2022 with a short-term lease expiry and in advance of completion, Melburg re-structured the lease and title, resulting in the business signing a 15-year commitment, benefiting from 2-5% RPI indexation.
As part of that re-structure, Melburg retained two separate assets – a circa two-acre industrial open storage site, sold to WJ Hughes & Sons, and a further self-contained industrial facility and yard, sold to MK Motorsport.
The accumulative consideration achieved from the three sales was approximately 30% ahead of Melburg’s purchase price.
Helen Blair, chief financial officer at Melburg, said: “This result is testament to the strength of our asset management platform and the support of our lender, Coutts, whose backing throughout our ownership enabled us to deliver the business plan in full. With funds available for immediate redeployment, we welcome further opportunities across the UK.”
Carrick Real Estate acted for Melburg on the sale of the Bekaert facility to a private family office, which was represented by APB Property Consultants.
