Cerberus Capital Management’s Maxim Office Park near Holytown in North Lanarkshire has secured a 43,000 sq ft letting to Balfour Beatty.
The construction and infrastructure firm has taken a 10-year lease and will be spread over three levels in the Maxim 7 building, consolidating four offices and around 400 employees.
Headline rents are £14.50 per sq ft.
One of Maxim’s existing tenants, biotechnology company TC BioPharm, has taken further space in the Maxim 1 building.
The firm has expanded its 5,005 sq ft ground-floor space and will now occupy around 11,300 sq ft in total across the ground and third floors.
TCB plans to use part of the additional space to increase its manufacturing capacity to develop technologies to treat patients with skin, kidney and lung cancer.
Recent tenants at Maxim 1 include transport and logistics company Europa Road, which took 1,173 sq ft in November 2016, and Document Data Group, which signed for a 2,000 sq ft showroom in May 2016.
The 756,000 sq ft park, situated between Glasgow and Edinburgh on the M8, is now 25% let seven years after completion.
Suites of 1,000 sq ft up to entire buildings of 187,000 sq ft buildings remain available. The upgrade works on the M8 and bus services to and from the park are expected to fuel further demand.
Cerberus paid around £30m for the park in 2011 when the scheme was on the brink of receivership. It was previously owned by Tritax EZ Eurocentral Unit Trust, an investment vehicle for private investors managed by Tritax.
Cushman & Wakefield and Ryden represented Maxim Office Park; CBRE acted for Balfour Beatty.
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