One of largest office lettings in Thames Valley that year
7 Letting secured
67% Of total office take up in Bracknell that year
£67.7m Client able to sell for
Secured Lettings Case Study - Hines and Oaktree Capital Management LLP
200,000
sq ft
Marketed across two buildings
165,000
sq ft
Secured in lettings
Challenge
Acquired at the height of the recession, the partnership aimed to turned around the asset for sale. Made up of two buildings, Maxis 1 and Maxis 2, we aimed to achieve 95% occupancy to trigger the asset’s sale.
How we helped
- Used Thames Valley market knowledge to capitalise on rising occupier demand to secure global electronics tenant
- Transformed marketing of the asset using knowledge of the sector, local environs and occupier insight
- Promoted office flexibility, high specification and facilities alongside green spaces, transport links and surrounding retail offer.
Results
- Successfully marketed Grade A office space, supporting employee wellbeing
- Secured 165,000 sq ft across seven lettings, bringing occupancy to 100%
- Global electronics corporation, Panasonic, took 41,000 sq ft, establishing its UK headquarters across the ground and first floors of Maxis 2
- Global software and consultancy company, JDA Software, took a full floor of 23,800 sq ft
- US-based IT company, Riverbed Technologies, signed for 16,600 sq ft
- Specialist internet security technology company, Cyren, took 3,200 sq. ft. on a five-year lease in Maxis 1
- Papercut took the final top floor suite of 5,400 sq ft in Maxis 1
- Enabled successful sale of the office campus to Frasers Property for £67.7m
- Achieved 67% of total office take up in Bracknell
- One of the largest lettings in the Thames Valley that year
- Rounded off a strong year for Maxis, which saw Cadence, Allegis Group, Morgan Lovell/Overbury, HiFX and Mitie all lease space.
“Thanks to the knowledge and expertise of the team at Vail Williams, we have been able to capitalise on the buzz surrounding Bracknell with the Lexicon Town Centre redevelopment, to secure the sale of a 100% let, income-producing, office asset with great appeal amongst global brands like Panasonic.”
Raj Rajput, Managing Director Hines UK.
Get in touch
If you think you may need similar support to that described here, or you would simply want to have an informal chat with a member of our team to discuss your property needs, get in touch.
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