Maya Capital sells Swansea office building for €10.5 (GB)

Maya Capital sells Swansea office building for €10.5 (GB)

In further evidence of its successful strategy in focusing on smaller assets in the UK regions, Maya Capital has completed the disposal of Telelink IV office building in Swansea, fully let to the DVLA, for €10.5 (£9m). The company has acquired the asset in February 2015, after which it improved the certainty of the asset’s income profile by signing a new lease, unlocking six years of certain income. Though this active asset management over the last four years, Maya successfully implemented value-enhancing strategies and was able to increase the property’s value by c.50%, generating a total return far in excess of its target. This disposal is the fourth successful sale of this strategy.

 

Maya is still looking to acquire more assets in the €3.5m (£3m) to €35 (£30m) range in regional UK markets for its clients. David Pralong, Managing Partner of Maya Capital, commented: “This disposal underlines that there remains strong appetite from investors for sorted-out office assets, despite Brexit uncertainty. In negotiating a successful lease regear, we were able to generate significant value for our investors, a fund advised by GWM Capital Advisors LLP, part of the GWM Group.” 

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