TCB expands at Maxim; Seven Hills sold in £15m deal
Angela Scott: ‘significant expansion’
Drugs development firm TC BioPharm (TCB) has extended its space at Maxim Park, near Glasgow, by an additional 10,000 sq ft, on a ten-year lease.
The immunotherapy company has been a tenant at the Park since 2014, when it took 5,000 sq ft on an initial ten-year lease to build facilities for the development of novel treatments for various types of cancer. The expansion reflects the rapid growth of the company as it moves further products into clinical trials together with international partners.
TCB’s founder and chief operating officer, Angela Scott, said: “We’ve made significant investment in expansion and we now have offices, development laboratories and a manufacturing base here. We’re in the ideal location, not just for transport and travel links, but also for recruiting a skilled workforce.”
TCB’s expansion follows the recent announcement of global customer experience contractor Sitel (UK) taking 58,744 sq ft across the Maxim 10 building on a ten-year lease in order to service its contract with a leading media supplier. This move will bring up to 800 staff to the park who will join existing tenants including Balfour Beatty, SEPA, Allied Glass, Document Data Group, SureThing, Proact UK, Wills Bros, Ricoh and Brown MacFarlane.
CBRE and Knight Frank acted for Maxim Park whilst Addleshaw Goddard acted for TC BioPharm.
Seven Hills sold
Seven Hills Business Park in Sighthill, to the west of Edinburgh, has been sold to UBS Asset Management’s Real Estate & Private Markets Triton Property Fund in deal worth an estimated £15m.
Previously owned by Peveril Securities in a joint venture with Citivale, the site is seeing construction work on 76,000 sq ft of industrial and trade space which is due for completion in autumn of this year.
Jonathan Hollick, Portfolio Manager of UBS-AM’s Triton fund, said: “Edinburgh’s industrial market remains characterised by a lack of supply, making the development aspect of this investment particularly attractive, and leaving us confident in the asset’s ability to generate strong returns for the Fund.”
Seven Hills is being marketed by joint letting agents, Ryden, Burns & Shaw and Montagu Evans.