The Edinburgh-based property advisor is acting on behalf of the new owners, an undisclosed North American institutional client. Salford Quays is set for £10m renovation as part of a proposal put before Salford City Council.
Last year, the Greater Manchester office development was acquired by a North American institutional fund for £30m. The undisclosed owner has instructed its UK representative, Hunter Real Estate Investment Managers, to seek planning permission to refurbish six buildings that will offer 433,637 sq ft of M5 office space in total.
Hunter, the Edinburgh-based property advisor, oversees assets across the UK and in Central Europe. At Salford Quay, Hunter hopes to adopt a phased programme that will start once planning consent has been granted. The entire project could be completed within 12 months.
Iain Leheny, fund manager at Hunter R.E.I.M., said:
"The application demonstrates our firm commitment to creating a development of excellence and we look forward to commencing work on site in due course."
"Since the acquisition of Exchange Quay we have been working hard with our entire project team to master-plan the development and determine how to maximise its immense potential. In addition to producing some of the best quality office space in Greater Manchester, we want to create a superb, vibrant environment that all our occupiers can enjoy and be proud of.”
The Salford Business Centre is currently home to leading companies that include Sage UK, the payroll specialists.
Exchange Quay is located along Trafford Road, which as well as connecting to the motorway network via the M602, provides a route from Salford Quays to Manchester’s city centre. There is generous parking provision for drivers and employees can make use of tram services from the on-site Metrolink stop.