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Specialist real estate/private equity investment company Maya has begun what will become a UK-wide investment programme with its purchase of a Swansea office building.
To further its investment portfolio Maya will be targeting properties outside London and the M25, putting together a combination of sites that will enable risk-spreading and bulk investment.
The Swansea purchase, at Sandringham Park, involves an office building of almost 67,000 square feet, currently let to sole tenant DVLA, with a net initial 10% yield and four and a half years to run on the current lease. The property was sold to Maya for £6 million.
Maya has two additional transactions lined up with a combined value of £24 million, and the total anticipated investment to be completed over the next few month’s amounts to around £100 million. The programme of regional purchases of secondary office assets is intended to take advantage of yields that can compete and outstrip those of London, which have been affected by high capital growth.
Maya Capital has previously invested in office properties within the M25 area, two of which are Countryside House in Brentwood last summer, and 160-163 Friar Street in Reading last October. The company is young, having been founded just last year and its aim is to manage asset portfolios across western Europe.
David Pralong, founder and managing director of Maya Capital LLP, has stated that “We are excited by the current opportunities in regional cities in the UK […] We are delighted to have the backing of a top-tier institutional investor that has committed £100m to our strategy, and look forward to executing further value driven transactions in the months to come.”
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.