Maya Capital and AnaCap Financial Partners are investing over £125m (€145.5m) in London to refurbish an office building and develop a hotel asset.
The investors have bought 160 Blackfriars Road in London’s Southbank. The property includes a 106,000sqft office and ground floor retail building, as well as adjacent land for the hotel scheme.
Maya and AnaCap said the development scheme consists of a 64,000sqft, 8-storey hotel and an affordable workspace.
David Pralong, managing partner of Maya Capital, said: “We are delighted to announce our first acquisition in London and are looking forward to working with AnaCap on this exciting mixed-use scheme where we see a substantial investment opportunity.
“The entry into London marks our belief in the resilience of the London office market and ability of Grade A, ESG-focused office offerings to outperform the market.”
Sebastien Wigdo, managing director at AnaCap Financial Partners, said: “This acquisition is part of our strategy to invest in well-located assets in core European cities with strong value- add potential. Specifically, the transaction illustrates our conviction that fully refurbished Grade A offices targeting the highest ESG standards should prove attractive to tenants in a post-Covid context, whilst the future hotel will bring long-term value to our scheme and the wider community.
”This is our first transaction with Maya Capital and we are looking forward to deploying more capital with them in the future.”
To read the digital edition of the latest IPE Real Assets magazine click here.
