«RWM Capital» Investment group has purchased the office building located in the Central business district of Glasgow (UK), 163 West George Street. The area of the object is more than 3 000 m2. The Victorian building is included in a list of objects protected by the state. The transaction has been made on the funds of «RWM Capital» Investment group. The volume of investments amounted to 8.7 million pounds. The property is rented for 100%.
«Our core competency is a professional asset management, - said Sergey Orlov, Chairman of the Board of Directors of «RWM Capital» Investment group. - Entering new national markets, or developing new segments, we try by our own example to pave the way to future co-investors of our projects, and shareholders of the funds under our management. The commercial real estate market with stable rental flow, on which we focused, in countries such as UK doesn't offer the usual for Russian investor high yield in annual percent, but looks attractive in terms of continuing devaluation of Russian national currency».
«In our opinion London real estate market is overheated. We focused on major regional UK cities («Big 6»), where capitalization rates are higher and the prospects for further growth in the commercial real estate market does not seem to be as ambitious as in London, - commented Daria Kharlamova, head of the project and of the analytical Department of the «RWM Capital». - Glasgow is one such cities. It is the third of the most populous city in the UK and the business and economic centre of Scotland with offices of large international companies.
Our goal today is to improve our own expertise in the UK market, to expand the network of contacts with professional participants of the market, to strength relationships with partners in selected segments and to attract co-investors. We plan to continue increasing of presence in the UK property market and consider two main directions: regional office market «Big 6» and сollege campuses in University cities».
