Maya Capital has launched a £100m investment drive into regional offices with the purchase of a £6m block in Swansea.
The investment covers a 66,800 sq ft block let to the DVLA with 4.5 years of lease remaining – a net initial yield of 10%.
Maya Capital is targeting UK offices outside London and the M25, and has two more assets under offer for a combined £24m of equity.
Additional transactions will be completed in the coming months to reach a total deployment of £100m by the end of 2015.
Maya Capital managing partner David Pralong said: “We are excited by the current opportunities in regional cities in the UK. While all-time low yields start to plateau in London and its immediate vicinity, today’s announcement highlights the growing investor appetite for a regional strategy outside the M25.
“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.”
Maya Capital was advised on the Swansea transaction by Gerald Eve and Mishcon de Reya.
