Maya Capital Buys Glasgow Office

Maya Capital, a specialist real estate investment firm, has completed the acquisition of Guildhall, a Glasgow city centre office for £30m.

The investment, bought from Patrizia, is Maya Capital’s first since the outbreak of COVID-19, and represents a net initial yield of circa 9.5% and a capital value of £207 per sq ft.

Guildhall is an almost fully let office building totalling 145,390 sq ft.

Maya said the acquisition forms part of its flagship regional UK office strategy, which targets office assets outside London. Total capital deployed by Maya since launch of this strategy is circa £165m. A new investment vehicle launched by Maya in June, which focuses on UK retail assets in need of regeneration sits alongside the flagship strategy. Further transactions are anticipated across the UK in the coming months on both strategies.

David Pralong, Managing Partner of Maya Capital, said:

“We are delighted to acquire this property, in one of the best locations in Glasgow, for what we believe is a good price in these interesting times. This achievement is the result of our stock picking methodology, disciplined approach and expertise in the sector.

“We remain keenly focused on the UK market where we continue to see substantial contrarian investment opportunities in both the office and retail sectors. We expect to acquire further assets in the coming months.”