News

Melburg buys 300,000 sq ft industrial park

Melburg Capital has completed the acquisition of the 300,000 sq ft Greenbank Industrial Park in Wigan in an off-market deal.

The deal was agreed with domestic appliance producer G2S, which is headquartered at the multi-let park.

Other tenants include furniture retail Kartell, and the site is leased at an average rent below £2.50 per sq ft. Melburg said it plans to reposition the asset through “tenant engagement and close-quarter asset management”.

The deal takes Melburg’s urban logistics portfolio to more than 1m sq ft.

A Melburg spokesperson said: “We remain in the early stages of a seismic shift within the UK logistics market, both in terms of the diversity and depth of the occupier base and how these occupiers are utilising their logistics facilities.

“Working collaboratively with G2S afforded us the ability to fully understand their operational needs and find a long-term solution to support their growth projections. We continue to selectively deploy capital in all sectors and geographies within the UK and work closely with occupiers to find solutions that positively impact their business’”

Miller Metcalfe acted on behalf of G2S.

Original article posted here.