THE DORCAN COMPLEX
This investment epitomises all of Maritime Capitals ‘Core Strengths’. Due to understanding legislation, corporate structures and having a strong investor-agent relation, we managed to complete a SPA of a company which the long leasehold of a 27,000sqft office complex sat within. This was an ‘off market’ deal and the level of purchase was at £14psf capital value.
We could see that the asset had a lot of potential and was severely under-managed. With some strong day to day management of the site and a technical asset management strategy, the investment now produces a 42%RR .
Within our asset management we introduced a strong marketing campaign which generated an occupancy increase from 45% to 95% let. Also with the addition of creating a serviced office within one of the refurbished blocks, we have generated a letting incubator for the rest of the site.
Within the space of a year the capital value increased to £55psf.