Melburg buys 350,000ft2 off-market site

The deal was agreed with a Yorkshire based private family office, Melburg’s seventh within the last 12 months, taking their total spend to more than £775m as the discreet privately owned real estate investment and development company add to their growing industrial platform.

Knitting and yarn distributor, Sirdar Group occupy 198,000ft2, which represents 55% of the space, and has recently expanded due to a growth in the brand.

Melburg will undertake a rolling refurbishment programme as well as several estate management initiatives and in so doing drive the rental tone.

 A spokesperson for Melburg commented; “We continue to adopt a data driven approach, selectively deploying equity into geographies and sectors where there is an acute supply demand imbalance. The asset has a captive tenant base, lies within 1 mile of Junction 40 of the M1, within a location with a sub 3% vacancy rate and was acquired at a 25% discount to residual land value”