ACRE Capital advises on the first acquisition of Mayfair Capital s new Thematic Growth Fund
ACRE Capital have advised Mayfair Capital on the acquisition Maple House, a 61,451 sq ft multi-let office in Birmingham CBD anchored by Siemens and Tesco close to the proposed HS2 hub. Maple House was acquired for 16.825m, 6.27% Net Initial Yield reflecting a low capital value of 274 per sq ft.
The property has a low passing rent of 19.17 per sq ft ensuring significant potential for future rental growth. Furthermore, the 0.4 acre freehold CBD site and low site density provide for future development opportunities.
Location: Maple House, Birmingham
Property Type: Office
Transaction Type: Acquisition
Client: Mayfair Capital