Bracknell: Frasers Property acquires Maxis business park for £68m

The Singaporean investor said the sales conditions had been satisfied, with £5.2m set to be paid by vendor Oaktree Capital Management as a top-up for the rent-free periods granted to the tenants of Maxis.

Last September, Frasers Property International, a subsidiary of Frasers Centrepoint, entered into sale-and-purchase agreements with Oaktree to acquire a portfolio of four UK business parks for £686m, as well as a separate deal to buy the Maxis business park in Bracknell for £57m subject to certain conditions.

At the time, Frasers Property entered into a conditional agreement with Oaktree to acquire Maxis, subject to conditions relating to net operating yield and Maxis achieving an occupancy of at least 95%.

Frasers Property intends to finance the deal in cash, funded from borrowings and internal resources.

Source: CoStar