Melburg Lifts Rents With Flurry of Wakefield Lettings

12 May 2023

Melburg Capital has completed of a series of leasing deals at the 350,000 sq ft Sirdar Business Park in Wakefield, West Yorkshire.

The investment manager, which acquired the asset in an off-market deal in Q4 2021, has completed new lettings to B&B Distribution and APH Automotive and also secured lease commitments from Dearnleys and Ulster Yarns.

The asset sits on a prominent 16.5-acre site off junction 40 of the M1 motorway and since acquiring the site Melburg has undertaken a tenant engagement repositioning programme, with new lettings securing rents in excess of £5/sq ft compared with £2.45/sq ft on acquisition.

Andrew Burns, head of asset management at Melburg Capital, Said: “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.

MORE INFORMATION AND SOURCE HERE: Melburg completes flurry of deals at Wakefield business park | BE News