Maya Capital has made three acquisitions totalling £28.5m.
The firm has acquired Cobalt 9b and Cobalt 15 in Newcastle’s Cobalt Business Park, the UK’s largest business park, and Eastgate House, an office building in Cardiff city centre.
Cobalt 9b is a 52,000 sq ft office building let to Siemens Energy Service. It was bought for £8m at a net initial yield of 9%.
Cobalt 15 is a 93,500 sq ft office building let to the Department of Work and Pensions. It was bought for £13m at a net initial yield of 10.1%.
Eastgate House is a 95,700 sq ft office building,. It was bought for £7.5m at a net initial yield of 10%.The University of Cardiff and the secretary of state are the principal tenants.
David Pralong, managing partner of Maya Capital, said: “We are delighted to further the implementation of our UK regional strategy with the acquisition of these three attractive assets.
“The Newcastle assets demonstrate our appreciation for strong occupational markets with high-quality tenants. Eastgate House is our first multi-tenanted asset, which proves our capacity to manage more complex assets and ultimately increases the diversity of opportunities we can consider.”
Maya Capital was advised on all three transactions by Savills and Mishcon De Reya.
