Leading accountancy and business software and services provider, Sage, has committed to Hunter’s 433,637 sq ft Exchange Quay office development in Salford Quays for a further 10 years with a newly refurbished 28,000 sq ft suite.
Agents on Exchange Quay are Canning O’Neill, Matthews & Goodman and Savills and Sage was represented by Vail Williams.
Sage has been steadily expanding within Exchange Quay since it first took occupation some 15 years ago and is presently located over two offices in Number 3 and Number 7 within the development. Hunter’s £10M refurbishment programme to upgrade the six office buildings to Grade A specification and create an entirely reworked amenity offering is well underway and Sage has committed to two and a half floors within Number 1. The office accommodation comprises 28,000 sq ft with an option on further space to allow for potential future growth. Sage will be operational within the new office suite by the end of summer 2015.
Since the start of 2015, 40,000 sq ft of lettings have completed at Exchange Quay to both new and existing occupiers including GlaxoSmithkline Research & Development Ltd (GSK), Boxchange Associates, Wurth Electronics, North West Employers, international consultancy RPS and marketing agency K2L. The recent deals signal the confidence in Hunter’s major investment into the development and are indicative of renewed occupier activity within the North West.
The first of the six Grade A office buildings, Number 8, has now been completed and Exchange Quay’s agents are quoting £16 psf on new lettings. The full works at Exchange Quay are set to complete in Q3 2015.
Gary Young, Managing Director for Sage Accountants’ Division, Sage UK & Ireland, said: “Sage is proud to be part of the vibrant Manchester business scene as a northern business – the only one in the FTSE100. Sage Accountants’ Division is headquartered at Exchange Quay, Manchester and we maintain a significant investment in the region. Sage is a continual innovator and recently launched two new transformative solutions: Sage Life, for small businesses, and Sage Impact, for accountants, Britain’s most trusted business advisors. By supporting all parts of the business Sage looks to support the UK SMB community from pre-start-up to powerhouses, and our proximity to the skills and infrastructure of Manchester is key to our high performance. Sage Impact was developed locally where the local workforce is fantastically skilled.”
Andrew Moffat, fund manager at Hunter, said; “We are delighted that Sage has taken a new lease on 28,000 sq ft of Grade A offices within Number 1. This commitment demonstrates that our occupiers appreciate our vision for the newly remodelled Exchange Quay and understand the benefits that our investment will provide. We have had a great start to the year with a real flurry of lettings and are looking forward to continuing this success as the works progress.”
Mark Canning, director at Canning O’Neill, said; “It is always an excellent endorsement of a development when existing occupiers commit for a further decade when faced with the option to relocate anywhere. Having enjoyed a successful 15 years of business at Exchange Quay, Sage recognised that the benefits of their location would be significantly enhanced by the new amenity offering being implemented and also the development’s unique key selling point of plentiful parking.”
Exchange Quay’s six office buildings range from 26,151 sq ft to 116,684 sq ft. The development, which also boasts its own dedicated Metrolink tram stop, is strategically located just off Trafford Road which links Salford Quays to both Manchester City Centre and the major motorway networks via the M602.