Thursday, February 27, 2014

News: Aviva acquires Capita call centre for £30.5m

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Aviva Investors' Lime Property Fund has purchased the long leasehold interest in Capita Park, Rotherham for in excess of £30.5m from a private investor.

Capita, the UK's leading outsourcing company, purchased Ventura and the Manvers site in 2011. In two buildings at Brookfield's Park, Capita has capacity for 2,000 staff and operates a number of contracts including British Gas, William Hill and RSPCA.

Aviva Investors is the global asset management business of Aviva plc. With a portfolio of over 50 properties, its Lime Property Fund reached the milestone of £1 billion in assets under management last year.

An open-ended Jersey Property Unit Trust investing in property in the UK, the fund targets secure, inflation-linked income streams, with low volatility of returns. It was created to meet the growing demand of UK pension funds wanting to invest in lower-risk property assets with the aim of offering an investment return in excess of that available from investing in fixed income assets.

Let to Capita on a long lease, the building was last sold in 2011 to another private investor for £22m. The passing rent then was £2.1m per annum.

Renos Booth, manager of the Lime Property Fund, said: "Having reached the £1bn assets under management threshold for the fund in 2013, we continue to invest in high quality secure property investments and the fund moves from strength to strength in its ability to secure appropriate long term income streams for our clients."

Hanover Green acted for Aviva Investors and the deal follows on from Legal & General's purchase of the adjacent Capita House in 2012 for £23.165m.

Capita also operates a contact centre at the Dearne Valley site on behalf of Telefonica and O2 and last year The Telegraph reported that Capita had plans to close customer service facilities in Bury and Glasgow and reduce the number of roles in Rotherham from 2,000 to 730 in 2015.

In November, Capita announced that over 500 jobs in its Dearne Valley and Leeds call centres would be created in the following months.

Aviva Investors website
Capita website

Images: Capita

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