The West Yorkshire facility is Bekaert's UK HQ. Credit: via Porterfield

Melburg refinances Bradford asset in £10m package

Coutts has provided a senior loan to Melburg Capital on the 110,000 sq ft UK headquarters of steel wire manufacturer Bekaert.

Melburg Capital acquired the asset in an off-market transaction in Q3 of 2022 with a short-term lease expiry to Bekaert, the Belgian-headquartered firm which is the world’s largest steel wire manufacturer.

In advance of completion Melburg re-structured the Bekaert lease, with the €5bn turnover business signing a 15-year commitment with 2-5% RPI indexation.

Coutts provided a senior loan to Melburg, which has amassed a logistics footprint throughout the UK exceeding 2.5m sq ft, whilst also acquiring £1bn of real estate over the past 24 months.

Helen Blair, Melburg’s chief financial officer, said: “We look forward to building on our wider relationship with Coutts, whose approach continues to enable our speed of execution. 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 are aligned with our environmental targets, placing sustainability at the core of its operations.”

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