AnaCap Financial Partners and Maya Capital LLP have completed the acquisition of 160 Blackfriars Road in London’s Southbank.
The property includes a 106,000 sq ft office and ground floor retail building currently 50% let, as well as adjacent land for a consented hotel scheme. AnaCap and Maya intend to carry out significant refurbishment of the existing office building and development of the hotel, bringing the total investment to over £125m. The development scheme, already consented by Southwark Council, consists of a 64,000 sq ft, 8-storey hotel and an affordable workspace.
Maya Capital has an extensive track-record with offices in the UK, having purchased 14 assets over the last few years as part of its UK regional office strategy. Southbank, one of London’s most sought-after submarkets, is a fitting location for the firm’s first transaction in the capital, in partnership with AnaCap. Southbank is a vibrant cultural hub that provides good access to the City and is increasingly popular with occupiers.
This acquisition gives AnaCap and Maya the opportunity to embark upon an intensive asset management scheme, that includes the creation of a high-quality office building, affordable workspace, public amenity space and a brand-new hotel.
Source : Joint release