Salford Office Deals Spur Optimism
Positive news from two major Salford office deals has spelled further optimism for the city's economic regeneration.
A US investment fund has acquired a significant amount of space in the form of an office block in the heart of Salford, for £40m.
The 211,000 sq ft office block, known as Trinity Bridge House , has been acquired by corporate financing firm WP Carey, adding to its already-impressive property portfolio.
Current tenants, HMRC government department, will continue tenancy under the new ownership. The department currently uses the space to house 2,000 employees.
Commercial property investor Capital & Centric this week received planning permission for a new business park near Salford Quays. The proposed £6m park will comprise 40,000 sq ft of space.
The nature of this proposal is, according to investors, an indicator of Capital & Centric's confidence in the future regeneration of Salford as a vibrant and viable business location, something echoed by the investment by WP Carey.
A spokesperson from WP Carey has described Salford as "a key regeneration area", and believe their recent aquisition "increase the attractiveness of the location, and have a positive impact on the local real estate market."
Spurred on by the success of key developments such as MediaCityUK the area has seen a surge of investment and development. Earlier this year, work began on the Salford Central regeneration scheme which will bring another 2.3m sq ft of office space to the area.