BROADOAK ASSEST MANAGEMENT SELLS MAXIM OFFICE PARK FOR £38m.

 January 2019

Maxim Image

Maxim Business Park on the outskirts of Glasgow was sold to property investor Shelborn Asset Management in a deal worth £38 million.

Broadoak Asset Management more than doubled the occupation at Maxim since it’s took over in 2015, with 15 tenants arriving and the largest Glasgow non-core office lettings of both 2017 and 2018. Tenants included: the Scottish Environment Protection Agency, flexible workspace giant Regus, infrastructure group Balfour Beatty and life science firms Lamellar Biochemical and TC BioPharm.

Public transport services were also increased to offer up to 185 busses per day and additional on-site amenities including retail offerings, outdoor sports equipment and electric vehicle charging points.

The marketing and leasing campaign led by Broadoak repositioned Maxim in the market which led to a successful leasing campaign for smaller suites in the park.

Maxim won the CoStar Glasgow Deal of the Year award in 2017 for the 43,520 sq ft letting to Balfour Beatty. Broadoak also achieved the largest Glasgow business park letting of standing stock in 2018 letting over 68,000 sq ft to Sitel which secured an additional 900 jobs at the park.

Craig Ritchie of Broadoak said: “Maxim has had a great run of leasing success over the last 24 months, particularly with the Balfour Beatty and Sitel lettings, so timing was good to capture the increase in value and execute a successful exit.