Maya Capital acquired Highdown House towards the end of 2015, after which it improved the certainty of the asset’s income profile by removing the tenant’s break option and unlocking seven years of certain income.
This has helped the firm complete the sale of Highdown House for a sum of c.£11.0m, reflecting a net initial yield of 6.0%, compared to a purchase price of £6.5m and a net initial yield of 10.25% in 2015.
“This disposal underlines our strategy of focusing on commercial regional assets with short leases. In negotiating the removal of the break option, we were able to generate significant value for our investors, funds advised by GWM Capital Advisors LLP, part of the GWM Group. We continue to find strong investor demand for long-lease commercial real estate across the regions.”
The sale of Highdown House comes on the back of Maya Capital’s successful disposal in 2016 of 160-163 Friar Street, an office building in Reading, for £11.2 million representing a net initial yield of 6.08%.
The buyer was advised by Savills on this transaction.
For further information, please contact:
Justin Griffiths / Mazar Masud
T: +44 20 7250 1446
About Maya Capital:
Maya Capital is a pan-European Real Estate and Private Equity investment firm that elaborates dedicated investment strategies for its investors. Maya Capital has an entrepreneurial and hands-on approach, driven directly by the strong involvement of its principals. Over the last 3 years, Maya has deployed more than £110m of capital in the UK regional commercial assets. Maya focuses on sophisticated strategies, going in value creating initiatives including asset repositioning, financial structuring and intensive asset and property management. Maya applies a dynamic approach and seeks opportunities resulting from special situations such as short leases or time-constrained purchases.
About GWM Group
GWM is an independent financial group founded in Geneva ca 15 years ago. The GWM team has over 70 years of combined experience in the real estate sector in the UK and Europe, having completed transactions in the last 15 years for a total value of over €30 billion.
For more information, please visit: www.gwmholding.com