Matthews & Goodman - Mixed-Use Development - Manchester, Salford Quays

Date: 18 Jun 2001

The last major high profile development site in Salford Quays has been purchased by Ballast Developments in association with Creswell Estates. The 8 acre former Salford College site will be developed as a mixed use scheme to include circa 120,000 sq ft of offices plus hotel and leisure uses.

Stephen Downey of Matthews & Goodman, who is advising Ballast and Creswell states,

"The Salford Quays office market has been experiencing an under supply of quality office accommodation for the past three years or so. With an average annual take up figure of circa 200,000 sq ft, we are confident in the early success for Quays Campus."

With the excellent transport links into the Quays, the site will be considered by occupiers who have previously limited their searches to City Centre and South Manchester. Quays Campus is located adjacent to the Metrolink station, which provides a direct link into the City Centre in approximately 5 minutes. The site has the added benefit of being located close to additional leisure and cultural facilities, including The Lowry Centre, The Imperial War Museum and retail outlet mall to open in Autumn 2001.

Downey continues, "We expect to be on site this Summer with the first speculative office building of 30,000 sq ft. With the market still rising, we are reluctant to commit on quoting rent other than to say for an air conditioned building, rent will be pitched around £17.00 per sq ft per annum. This still gives a competitive edge over City Centre and South Manchester office rents for similar quality space."

CB Hillier Parker acted on behalf of the Vendor and is retained with Matthews & Goodman to market the development.

Where do I go now?: » View the latest news items » View the news archive » Subscribe to Weekly Property Newsletter » Submit news