News Article

Maxim secures major tenant

28/07/2011

Maxim Office Park, Lanarkshire, has announced an anchor letting of Maxim 6 in its entirety to the Scottish Environment Protection Agency (SEPA). This major deal follows closely behind the recently announced capital restructuring of Maxim and appointment of Arisaig Property Partners LLP as the new asset managers.
 
SEPA is taking the approximately 60,000 sq ft 'Maxim 6' building, which is part of the largest speculative office development in the UK, on a 20 year lease. The move will allow SEPA to bring a number of its operations under one roof, and the facility will incorporate a first class laboratory to complement its sister laboratory opened in Aberdeen in 2010.
 
David Gebbie, partner at Arisaig Property Partners LLP which manages Maxim Office Park, commented: "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. Both Maxim and SEPA have economically benefitted from a review of the original terms without impacting the actual net present value of the lease. The news is a great boost for Maxim and the Lanarkshire area."
 
SEPA Chief Executive Dr Campbell Gemmell added: "I am extremely pleased to be able to announce that SEPA has secured an excellent new facility, which will not only mean more efficient and effective environmental protection for Scotland, but which also provides better value for money for the taxpayer.
 
"As a BREEAM Excellent building, the facility will reduce the environmental footprint of SEPA’s estate which is one of the key objectives of our estate strategy. It will provide the operational base for our regulatory teams for west central Scotland, an excellent working environment for several related national functions and a brand new, first class laboratory facility."
 
Environment Secretary Richard Lochhead said:  "SEPA's new central facility at Maxim is further evidence that the Scottish Government is committed to providing an efficient service to the taxpayer at a lower cost. The move will also help develop closer working between partners within Scotland’s public sector. The new facility will house another first class laboratory and achieve excellent standards of energy efficiency and environmental performance."
 
David concluded: "This important letting to the public sector, coupled with the recent changes to the funding and management will, without doubt, secure the long term future of Maxim. We see these developments as the catalyst for further occupiers selecting Maxim."
 
Maxim Office Park in total comprises over 756,000 sq ft of office and retail space across 10 buildings and is strategically located adjacent to the A8/M8, giving excellent access to the Central Belt of Scotland.
 
Maxim Office Park was represented by CB Richard Ellis and Ryden, while Cushman & Wakefield acted on behalf of SEPA.