Major tenant for Maxim office park

Posted on by John Cronin

A significant tenant has been secured for the Maxim Office Park near Coatbridge, Lanarkshire.

maxim officeThe future of the financially troubled Maxim Park (pictured) looks somewhat brighter following the substantial letting of the entire Maxim 6 building. The Scottish Environment Protection Agency (SEPA) has agreed to a 20-year lease on the 60,000 sq ft office block.

Described as the largest speculative office development in the UK, Maxim Park has had a turbulent financial history and was only recently rescued from financial collapse. A sale of the Lloyds Banking Group debt on the development to New York based Cerberus Capital Management gave the scheme a lifeline.

Maxim Park is a mixed-use, 750,000 sq ft speculative development of retail space and large, open-plan office accommodation. The offices are predominately 4-storey buildings with the largest being the 187,000 sq ft Maxim 5. One of the largest speculative office buildings in the UK, Maxim 5 offers floor plates of around 47,600 sq ft. All buildings in Maxim Park are BREEAM rated ‘Very Good’ or ”Excellent’. Quoted rental prices for office space is £14.50 / sq ft and rent-free periods are available.

SEPA is to retain its headquarters in Stirling but will relocate 350 staff from other existing offices. SEPA will relocate 200 staff from two offices that are due to close in East Kilbride.

Commenting on the letting agreement, David Gebbie, partner at agents Arisaig Property Partners LLP said: “We are obviously excited to welcome SEPA to Maxim Office Park, especially as it was the recent financial restructuring of Maxim that has allowed both parties to achieve a leasing deal that previously couldn’t have been achieved.”

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