News Article

Taking things to the Maxim

11/01/2008

Commercial Property Scotland

THE deal of 2007, for Doug Smith, 'must be CB Richard Ellis’ funding deal at Maxim, the largest speculative business park development in the UK. CBRE orchestrated this funding package on behalf of Tritax Assets.

The £330m Eurocentral EZ Trust was formed at the end of the 2006/2007 tax year to finance this major Lanarkshire project.  CBRE’s Scotland chairman continued:

“When complete, Maxim will comprise 735,000 sq ft of Class 4 (B1) offices; 245,000 sq ft of distribution space and associated leisure and retail units. Although CBRE has worked on several projects at Eurocentral in recent years, this project is the largest ever speculative funding package in Scotland.“

Significantly, it is also the UK’s largest enterprise zone (ez) deal since ezs were introduced in 1981.  The construction programme at Maxim is expected to be complete in 2010 and CBRE has been retained as letting agent. This takes to over half a billion pounds the value of transactions completed by CBRE in the Lanarkshire Enterprise Zone.