Melburg Capital [Melburg] announces the completion of a series of leasing deals at its recently acquired Sirdar Business Park, Wakefield.
The 350,000 sq ft asset was acquired off-market by the privately-owned investment manager in Q4 2021 and sits within a prominent 16.5 acre site off Junction 40 of the M1 motorway.
Melburg has since undertaken a tenant engagement and repositioning programme resulting in lease commitments from Dearnleys, one of the leading solar blind specialists in the UK, along with Ulster Yarns, part of the Ulster Group, a premium textiles manufacturer.
New lettings have also been secured with B&B Distribution and APH Automotive. Having acquired the asset with a rent passing of £2.45 per sq ft, all new lettings have been secured in excess of £5 per sq ft and account for over 60,000 sq ft of space.
Melburg has strategically amassed a logistics footprint throughout the UK which now exceeds 2 million sq ft, whilst also acquiring £1Bn of real estate over the past 24 months.
Andrew Burns, Head of Asset Management commented: “Sirdar Business Park is a great example of how our vertically integrated management platform is optimally designed to sustainably repurpose these complex assets effectively. We are continuing to grow the portfolio, acquiring assets which benefit from this close quarter management style.
“At Sirdar and in general we have prioritised our carbon footprint whilst providing an increasingly discerning occupier base with an excellent product. Although early in the asset repositioning, we intend to stage several further environmental interventions, targeting an EPC A rating whilst giving the occupational market something in short supply, a high-quality unit, benefitting from a collaborative management approach, at an affordable rent.”.
Melburg was advised by Cushman & Wakefield and Burgess Okoh Saunders LLP.
View Property Week article here.
View BE News article here.
View CoStar article here.
Melburg Capital [Melburg] are pleased to announce that Jack Burgess has been recognised by Property Week as a “rising star” in their 2023 People to Watch list. This recognition follows the firm’s significant growth over the previous 18-months, which has seen the team acquire over 1 million sq ft of logistics assets, improve the energy performance certificates across 100% of their growing portfolio, submit one of the largest town centre designated regeneration schemes in the west country, dispose of in excess of £150 million of commercial assets and in so doing realise a 3-year unlevered IRR in excess of 27%.
The Melburg team is delighted by the recognition alongside some of the industry’s most impactful leaders and look forward to another year of partnerships and growth across the business.
A huge congratulations to the other individuals included, all of whom are listed below.
Michael Gove MP, Lucy Frazer MP, Lisa Nandy MP, Jennie Daly, Roger Wade, Julie Hirigoygen and the Bank of England Monetary Policy Committee
View Property Week article here
Melburg is pleased to announce that we have started on site with the wholesale refurbishment of the newly rebranded, Voltaic. A 211,000 sq ft warehouse located on Wakefield 41 Industrial Estate, Yorkshire.
With a focus on sustainability, the Grade A unit will be delivered in Q1 2023.
Voltaic will include;
– Installation of a new PV array capable of generating 225,000 kWh of power annually.
– Power capacity of 6.5MVA.
– 10 ground level access roller shutter doors with potential to add 8 dock levellers, subject to terms.
– Redesigned yard space to create 66 parking spaces with the potential to add 45 for overflow, if required.
– Fully refurbished office accommodation with staff welfare block.
View Linkedin Article here
View Voltaic here
Melburg is pleased to have submitted planning for the comprehensive mixed-use redevelopment of the Broadwalk Shopping Centre, Knowle and in so doing taken a step closer to creating the Redcatch Quarter.
We are proud to be working with local residents, Bristol City Council and key stakeholders to create a community lead sustainable future for Knowle and the city of Bristol.
View Linkedin Article here.
View Redcatch Quarter here.
Melburg Capital [Melburg], announce the acquisition of the Bekaert manufacturing HQ, a 110,000 sq ft industrial asset located on Park House Road, Bradford in an off-market transaction.
The asset was acquired with a short term lease expiry to Bekaert, the world’s largest steel wire manufacturer. In advance of completion Melburg re-structured the lease, resulting in the €5.0Bn turnover business signing a 15 year commitment with 2-5% RPI indexation.
The acquisition is Melburg’s eleventh within the last 12 months, taking their total spend to over £1Bn as the highly discreet privately owned real estate investment and development company continues to increase its logistics’ presence, which now exceeds 2 million sq ft throughout the UK.
Melburg chief executive Jack Burgess commented;
“As a key employer Bekaert’s long term commitment to their Bradford HQ is hugely positive for the area. The business itself is thriving, posting a year on year revenue increase of 28.00% to €5Bn. With double digit operating margins and €791 million of cash on hand the balance sheet growth prospects are compelling. The physical real estate is ideally located and we look forward to working collaboratively with Bekaert to continue to optimise the facilities operations”
Melburg was advised by Newson Real Estate.
View Property Week article here.
View Costar article here.
View EG article here.
Melburg Capital Ltd [Melburg] – the privately owned real estate investment and development company announces the sale of Swan Lane Industrial Estate, Wigan to a private family office.
Melburg acquired the 300,000 sq ft industrial estate off-market in 2020 as part of a sale and leaseback with the owners of domestic appliance producer G2S Limited for £8.75m.
Following their acquisition Melburg repositioned the estate within a 24-month window through tenant engineering and close-quarter asset management. In so doing their team of skilled management specialists leased 100% of the estate, increased the passing rents by 55% and moved the WAULT from 3.00 to 6.23 years.
The sale follows a period of significant activity for the expanding investment specialist, having acquired in excess of 2 million sq ft of industrial assets, released plans for one of Bristol largest regeneration sites, with 880 new homes set to replace the Broadwalk Shopping Centre, and discreetly divested from £150m of assets including Warehouse K, London, Maxmor House, Dartford and 14-18 Belgrave Gate, Leicester.
Melburg CEO Jack Burgess commented;
“The life cycle of Swan Lane highlights the platforms ability to identify off-market value propositions, understand occupiers operational drivers, quickly execute complex management initiatives and realise exceptional risk-adjusted returns. The proceeds from the sale will be redeployed into similar opportunities”
View Property Week article here.
View Costar article here.
Melburg Capital has appointed Andrew Burns as head of asset management.
Burns will have overall responsibility for the group’s asset and development management activities while also sitting on the investment, management and sustainability committees.
He will be based in London and report to the chief executive Jack Burgess.
Burns has 17 years’ experience in commercial real estate and joins from London & Regional Properties, which he joined in 2018.
Burgess said: “Andrew’s appointment highlights our continued commitment to delivering best-in-class close-quarter management initiatives across the portfolio.
“His enthusiasm, work ethic and entrepreneurial spirit is very much reflected within our corporate culture. We are pleased to welcome him on board.”
Burns added: “Melburg’s five-year annualised returns and growth trajectory have been outstanding. It is a testament to the team’s hard work and ability to identify opportunities through a data-driven approach while executing intricate management initiatives in a collaborative way.
“I am looking forward to making a positive contribution to the growing platform.”
View Property Week article here.
One of South Bristol’s biggest shopping centres could be demolished to make way for up to 880 new flats, a two-screen cinema, library and new shopping streets.
Developers have offered their first official submission to council planners for their vision to transform the Broadwalk Shopping Centre at the heart of Knowle into ‘Redcatch Quarter’, a new development more in the mould of Wapping Wharf, with 12-storey blocks of flats either side of a new pedestrianised street lined with shops, restaurants and bars.
Bristol Live first revealed the plans back in January, and since then the developers have conducted a consultation and an exhibition of what they want to do to the landmark 1970s shopping centre on the junction of Wells Road and Broad Walk in Knowle.
Now, the developers have made their first submission to Bristol City Council’s planning department, asking whether they need to include an environmental assessment when they do eventually submit a formal planning application.
And it reveals for the first time officially the scale of the development, which will occupy almost all the space between the Wells Road and Redcatch Park.
The developers said the site could have up to 880 residential dwellings, 7,430sqm of commercial floorspace, 190 sqm of community use, a 320sqm library – which would replace the library that’s in the existing Broadwalk Shopping Centre and 870 sqm given over to a cinema or theatre. On top of that, the developers say the site will include 360 car parking spaces, mainly in an underground car park underneath the development, and cycle parking for a total of 1,455 bikes.
The development would create new streets – one would be a pedestrianised street going from Wells Road to a new entrance to Redcatch Park, and a second would be a service road for the development which would cut across north-south from Redcatch Road almost to Broad Walk.
The site already has planning permission for the shopping centre to be demolished and rebuilt with hundreds of flats. Before the pandemic, developers submitted a plan for 420 new flats and shops – again 12-storeys high – which was eventually given permission by council planners last year.
But the site changed hands and the new developers said the pandemic meant a change in shopping habits, so a new plan with more homes and less space for shops was needed.
The developers said they hope to submit a formal planning application for the new project this summer.
The artist’s impressions of the site reveal the 12 storey block of flats in one drawing would be located at the south western corner of the development site, closest to Redcatch Park on Broad Walk road itself, while the other residential blocks would be around six to nine storeys high.
If the development does end up having a cinema, in the long term it could be the only one in South Bristol, after planning permission was given last year for the Hengrove Leisure Park to be cleared – including the Cineworld multiplex there – for more than 300 new homes.
View Bristol Post article here.
Melburg Capital Limited [Melburg] are honoured that Jack Burgess, current Chief Executive and Founder has received a further nomination for Young Property Person of the Year at the 30th annual PROPS awards.
The PROPS are the UK’s longest standing property awards hosted by Variety. Since its inception in 1992, The PROPS, dedicated to the UK’s property industry, has raised over £10.8 million enabling Variety to provide 2,200 custom-built wheelchairs and other essential items to children and young people all around the UK.
The list of recipients of PROPS awards over the years includes some of the industries most celebrated figures Trevor Hemmings, Gerald Ronson CBE, Tony Pidgley CBE, Sir John Beckwith CBE, Sir John Ritblat, Sol Kerzner, David Lockhart, Michael Slade, Sir Stuart Lipton, David Pearl, and Nick Leslau.
Melburg Capital Ltd [Melburg] – the privately owned real estate investment and development company announces a collaboration with The Bristol School of Art following completion of refurbishment works at the 110,000 sq ft Bristol city centre office building, recently rebranded 360 (www.360bristol.co.uk).
Bristol School of Art forms part of the SGS College and runs 50 plus courses annually, with over 450 attendees ranging from first year Foundation students to degree courses as well as Part time Adult evening classes and Creativity for Wellbeing community courses.
Melburg engaged with the prominent local stakeholder, running an art competition to promote local aspiring artists and provide the opportunity to contribute towards the regeneration of its landmark office building.
360 Bristol has undergone a wholesale refurbishment focusing on the building’s sustainability credentials and occupier welfare and wellbeing. The repositioned building now includes a full-service gym, direct cycle in office access, a full suite of cycling facilities, yoga studio’s and a designated café and business lounge. A truly unique offering within the city centre. The space remains a key office hub for the NHS with the remaining 45,000 sq ft available to let.
Student artwork depicting Scenes of Bristol will be presented throughout the within the newly created café and business lounge providing the opportunity for the students to showcase their talent.
Kate Gwynne, College Operation Coordinator for Bristol Art School commented; “This has been a great project to be involved in, the students will really enjoy their work being within the public domain, for most of them this will be the first experience of exhibiting their work – hopefully the first of many!”
Jack Burgess, Chief Executive of Melburg commented; “We are thankful to have had the opportunity to work collaboratively with the Bristol School of Art. The volume of entrants and calibre of work was inspiring. The overwhelmingly positive feedback and success of the programme has cemented its inclusion in forthcoming projects around the city.”
Agents Knight Frank & Alder King represent Melburg, for further information relating to available office space please contact;
0117 917 4537
0117 317 1084