M7 and Kamco buy Basildon office for €33m

M7 Real Estate and Kamco Invest have acquired an office property in Basildon, UK for £27.8 mln (€33 mln).

The vendor of the asset, dubbed Janus House, was Maya Capital.

The headquarters office building provides 116,989 ft2 (10,870 m2) of Grade A office accommodation over ground and two upper floors and sits on a 6.38 acre (25,800 m2) site. It is let in its entirety to FDR Limited, a firm producing commerce-enabling technology, until 31 August 2029.

The property is situated on Festival Business Park in Basildon’s core commercial area approximately 1.5 miles north of Basildon town centre and within 1.6 miles of the A127 which provides access to the M25.

David Pralong, founder and managing partner at Maya Capital, said: 'This sale represents another successful exit in line with our regional office strategy.

'We remain keenly focused on the UK regions where we continue to see substantial investment opportunity through a combination of high yields and low market vacancy rates relative to London. We expect to invest in further high-quality assets in the coming months.'

Savills advised Maya Capital.

James Vivian, director in the UK investment team at Savills, says: 'We are delighted to have completed the sale of Janus House on behalf of Maya Capital, who we’ve worked closely with from purchase, through the break and rent review and now the successful sale.

'Good quality long income assets are still being sought after by investors, particularly overseas investors who have been especially active.'

M7 Real Estate were advised by Kimmre.


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