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Maya Capital completes £7m Cardiff acquisition
Second deal completed from £100 million equity raised
Acquisition of Knox Court in Cardiff city centre Closely follows a £6m office building acquisition in Swansea
London, 16 March 2015
Maya Capital LLP, a specialist Real Estate and Private Equity investment firm, announces today that it has completed a second transaction from its £100 million equity raised with the £6.75 million acquisition of Knox Court in Cardiff city centre.
Knox Court is a 60,100 sq. ft. freehold office building located on the corner of Fitzalan Place and Knox Road in central Cardiff, with close proximity to the city’s central retailing area and Queen Street Rail Station. The building is fully let to Legal and General Assurance Society Limited with 4.5 years of lease remaining with a net initial yield of 12.0%.
Maya Capital recently announced an agreement with a major institutional investor to deploy £100 million of equity in UK office real estate outside London and the M25 by the end of 2015. In February, the firm announced its first investment with the purchase of a 66,800 sq. ft. office building in Swansea, let entirely to the DVLA, for £6 million. Maya Capital has an additional deal under offer, the details of which are expected to be announced in due course.
David Pralong, Managing Partner of Maya Capital, commented: “I am pleased to announce the second deal by Maya Capital in quick succession to the first. One of the key strengths of this firm is our ability to deploy capital quickly in what is an increasingly opportune market for regional office real estate, with investor appetite for this type of asset continuing to grow.”
Maya Capital was advised by Savills, Clay Street Property Consultants and Mishcon de Reya.
For further information, please contact: Justin Griffiths, John Elliott or Karen Le Cannu Powerscourt (PR adviser to Maya Capital) +44 20 7250 1446 / Mayacap@powerscourt-group,com