Private equity firm snaps up Peterborough office block for £23 million

The four-storey Wordwide House, in Thorpe Wood, has been bought by private equity firm Maya Capital for £23 million.

The 164,000 sq ft office premises are currently the home of financial services company Travelex.

The deal is one of two totalling £43 million completed by Maya Capital today, which has also bought the headquaters of First Data in Basildon, Essex, for £20 million.

A spokesman for Maya said further short term investment was not planned for the 164,000 sq ft office premises.

He said: “The building is fully let to Travelex, which has just completed a makeover of the reception, so no further capital expenditure is anticipated in the short term.

David Pralong, managing partner of Maya Capital, said: “These are two very attractive assets that both strengthen our existing portfolio and provide us exposure to two new UK regions - Cambridgeshire and Essex.

“We are also delighted to acquire locations occupied by high-quality and long-term tenants such as Travelex and First Data Corporation.

“These two deals add to Maya Capital’s fast-growing portfolio of commercial real estate assets outside of London and the M25 and bring to eight the total number of properties acquired in the past 12 months, during which the company has spent £100 million.

“With these deals we have now invested close to £100 million in this specific strategy, which is a fantastic achievement for the team, particularly as this has been accomplished from scratch in less than 12 months.

“We remain keenly focused on the UK regions where we continue to see a substantial investment opportunity and we are well-positioned to acquire further quality assets in due course.”

In October last year, Maya Capital announced a £90 million debt investment from GIC, one of the world’s largest sovereign wealth funds, to support its UK regional strategy alongside original investor GWM Group.

Mr Pralong said this commitment ensured Maya Capital had substantial financial resources to pursue further deals during the course of 2016.