Melburg Capital has acquired Greenbank Industrial Park, Wigan. The deal is the latest in a series of high profile off-market purchases including the South Plaza office complex, Bristol and Warehouse K building in London. This also marks a significant milestone for the highly discreet investment specialist having recently acquired in excess of 1 million sq ft of urban logistics assets throughout the UK.
The multi-let industrial estate was acquired in a sale and leaseback transaction with one of the UK’s leading domestic appliance producers and suppliers, G2S who have made a long-term commitment to the headquartered facility. Other occupiers include international furniture retailer Kartell. The estate is leased at an average rent of below €2.88 (£2.50) per ft².
The industrial asset extends to in excess of 15 acres and is located within close proximity of both the M61 and M6 motorways and adjacent to the recently completed Persimmon Gardens village, a 250 home residential development. Melburg intends on repositioning the asset through tenant engagement and close-quarter asset management.
A spokesperson for Melburg commented: “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."
