News Article

First Minister Visits UK's Largest Advance Built Office Park at Maxim

20/10/2008

SCOTTISH PROPERTY NETWORK     

First Minister, Alex Salmond, toured the UK’s largest advance build office park development – currently under construction in Lanarkshire – on Friday, October 24th to be brought up-to-date on progress on a project likely to create 8,000 jobs by 2010.   

Mr Salmond visited the £330 million Maxim Office Park to view progress being made on a site which will provide 10 international class office buildings, more than 756,000 sq ft of grade ‘A’ office space and is being heralded as the blueprint for business park construction in the future. The development, which is equivalent in size to 27 football pitches, is entirely privately funded and includes the largest office block building currently under construction in the UK (Building 5 – 186,545 sq ft).

First Minister Alex Salmond said:
“Scotland is an excellent place to live, work and do business and the Scottish Government is committed to strengthening the economy and making Scotland a more successful and prosperous nation.  “This Government is focused on addressing the challenges of the current economic climate. We are working to maintain growth and business confidence in our economy through maximising opportunities for investment and jobs. “I am delighted to mark the latest phase of this ambitious development which has the potential to make a significant contribution to the Scottish economy and could attract new jobs to Lanarkshire.”

With forward funding provided by Tritax Group and the Bank of Scotland, Maxim will see its first building completed in November – a little over a year after the construction process began on the former Chunghwa Picture Tubes site. On completion at the beginning of 2010, the site will create a vibrant business district offering Grade ‘A’ office accommodation, a range of shops, a wine bar, bistro and childcare and leisure facilities.
The integrated facilities will also include a PGA accredited putting facility which has the backing of leading Scots golfer, Alastair Forsyth, and a proposed amphitheatre which will host an extensive arts and events programme. Maxim will also be the first Scottish business park to provide wi-fi access across the development and in the reception area of every building. The modern office architecture will be surrounded by impressive landscaping with water features, trees, shrubs and aquatic planting, designed to be in keeping with Maxim’s core vision to create a ‘green’ setting.

Chief Executive, Karen Campbell, is confident Maxim will offer occupiers the opportunity for an unparalleled working lifestyle. "Leading national and international companies will be able to enjoy the highest quality buildings, facilities and infrastructure within Scotland’s newest office park. “We are already in talks with a number of potential occupiers and will be in a position to make further announcements on that in the coming months. 

The on-site amenities at Maxim are designed to appeal to the HR department, the rents to the finance director and the buildings quality and specification to the property director.” Occupier packages on offer at Maxim will be competitive in a UK global context due in part to the enterprise zone status and the economies of scale in the build costs as a result of the decision to create the development as a single phase. Rental figures for office space are likely to be circa £17 per sq ft, while city centre rents in Scotland are currently heading towards £30 per sq ft. 

“Lanarkshire has achieved a stunning transformation from an economy based on the coal and steel industries to a broad based and diverse business location with a strong focus on innovation,” added Ms Campbell. “Much of this growth and success is due to the flexible, stable and well educated workforce on the doorstep. The area is already the chosen location for a significant number of blue-chip organisations and Maxim is in pole position to strengthen that even further”. Maxim's Chairman, David Hunter, who played a key role in the creation of the award winning Chiswick Park development in London, added: "Above all Maxim will offer a quality working lifestyle.
“Our aim is to create a calming, fully integrated, attractive setting which has good amenities on site. The fact that we are committed to delivering the entire project in one single phase gives certainty to potential occupiers. “The creation of this world-class business facility will attract international businesses to Scotland.  

We are offering occupier packages which are highly competitive, not just in UK terms but also by global standards.” Tritax Group Partner, Ian Ross said the progress at Maxim had been significant in the past 12 months. “It is highly unusual in the UK – and certainly in the current market conditions – for a project of this nature to be constructed in one single phase, but the benefits of doing so for the tenants will be substantial. “Karen Campbell and David Hunter are developing something very special at Maxim and with each of the ten buildings literally rising from the ground in front of us we can all see the vision for the project quickly becoming a reality. “Maxim is going to be a huge asset to the Scottish economy as well as a blueprint in terms of how business parks should be developed in the future.”

Details on the Maxim buildings are as follows:

Building Size Office One 6,555 sq.m. (70,560 sq.ft.)
Office Two 6,946 sq.m. (74,769 sq.ft.)
Office Three (Hub building) 5,618 sq.m. (60,473 sq.ft.)
Office Four 6,557 sq.m. (70,581 sq.ft.)
Office Five 17,330 sq.m. (186,545 sq.ft.)
Office Six 5,446 sq.m. (58,622 sq.ft.)
Office Seven 5,466 sq.m. (58,622 sq.ft.)
Office Eight 5,466 sq.m. (58,622 sq.ft.)
Office Nine 5,466 sq.m. (58,622 sq.ft.)
Office Ten 5,446 sq.m. (58,622 sq.ft.)
Total 70,236 sq.m. (756,039 sq.ft.)

Source: Maxim Office Park