Melburg refinances West Yorkshire shed with Coutts loan

Melburg Capital has secured a loan from Coutts to refinance a West Yorkshire manufacturing facility occupied by Bekaert, the world’s largest steel wire manufacturer. Coutts is providing a £10m senior loan to Melburg, which bought the 110,000 sq ft industrial property, located on Park House Road in Low Moor to the south of Bradford, in an off-market transaction in 2022.  At the time, Bekaert occupied the site with a short-term lease expiry. The owner has since restructured the Bekaert lease, securing a 15-year commitment with 2-5% RPI indexation. Melburg’s logistics footprint in the UK exceeds 2.5m sq ft. It has bought £1bn of real estate over the past two years. Helen Blair, Melburg’s chief financial officer, said: “The transaction is a great example of the team’s 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.”