THE landmark Guildhall office building in Queen Street in Glasgow has been acquired for £30 million by Maya Capital.
Real estate specialist Jones Lang LaSalle said it had advised Maya Capital on a £21m financing for the acquisition of the building, which has around 145,000 sq ft of space and nearly 100% occupancy. JLL noted the debt had been arranged by ARA Venn, an investment manager specialising in European real estate private debt, and provided by Schroders through its Income Plus Real Estate Debt Fund.
Maya managing partner David Pralong said: “We are delighted to acquire this property, in one of the best locations in Glasgow."
George Cotterell, of ARA Venn, said: “While the pandemic has created uncertainty across the market, we are open for new business.”
JLL said: "The building is situated close to all key public transport hubs and amenities and is a five-minute walk from Queen Street and Glasgow Central stations, as well as Buchanan Street and George Square."
Claudio Sgobba, senior director for debt and structured finance for Europe, the Middle East and Africa at JLL, said: “We are pleased to have been able to support Maya Capital in securing this financing solution as part of their continued strategy of targeting regional UK office assets with excellent locations and strong asset management potential.
"This acquisition is an important indication of the increasing lender activity across the UK and highlights the demand among lenders for assets with strong fundamentals. The debt markets continue to offer ample liquidity following a return to stabilisation after the disruption in the earlier parts of the year."
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