As part of the new deployment, Maya Capital has closed its first investment last week with a £4m purchase of Bede House in Newcastle, a c.38,000 sq. ft. multi- let office building at a net initial yield of c.8.6%.
Maya Capital is targeting UK office real estate outside London and the M25. Additional transactions will be completed in the coming months to reach a total deployment of £50m by the end of 2018. The aim is to build a portfolio of UK secondary office assets targeting smaller size assets, where better pricing can be achieved due to the lack of investor competition.
“We continue to be excited by the existing opportunities in the UK’s regional cities, where there is a combination of high yield and low vacancy rate, which compares favourably to London. Today’s announcement highlights the continued investor appetite for a niche and robust regional strategy targeting smaller asset sizes. We are delighted to have the backing of a top-tier institutional investor that has committed to our strategy, and look forward to executing further value driven transactions in the months to come.”
Maya was advised by Knight Frank on the Newcastle 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.