The Exchange Quay (EQ) development in Salford Quays has enjoyed a successful year, outperforming competition to secure a spectacular 64% of the space transacted in the Salford Quays office market in 2016. Under the careful stewardship of Hunter REIM, the 433,637 sq ft development has re-emerged as a major force in the North West Office Market.
Over the last 12 months, Hunter has transacted on an impressive 198,000 sq ft, including the landmark deal to AJ Bell on 93,000 sq ft. in Building No 4. Recently, JLA Group signed a 10 year lease for 10,800 sq ft in Building No. 1, and a further 15,000 sq ft has just been let in Building No 5 to an un-named occupier. Only 114,000 sq ft remains available to let at EQ at a quoting rent of £18.00 per sq ft including cars.
The success of Hunter’s £10M investment into upgrading the space within Exchange Quay’s six office buildings has been largely as a result of the remodelling of the public realm and the introduction of a comprehensive range of on-site facilities, including a Costa Coffee outlet and Londis Retail shop, described as “a HR Director’s dream”. EQ’s own dedicated Metrolink tram stop is also a huge benefit.
Occupiers who have signed up and committed to Exchange Quay in the last year include JLA, AJ Bell, Space & Time Media , insurance firm 1st Central, American multinational conglomerate corporation 3M, Beauty Bay, Bo-Concepts, Environmental Resources Management (ERM), Sage, GlaxoSmithkline Research & Development Ltd (GSK), Boxchange Associates, Wurth Electronics, North West Employers, international consultancy RPS and marketing agency K2L.
Jeremy Birkett-Jones, investment director at Hunter, said;
“We are delighted to be celebrating a successful year at Exchange Quay. Our recent string of lettings success, to include AJ Bell’s landmark deal in August, demonstrates the strength of our investment programme in bringing this extensive development back to life. We have listened closely to our occupiers and the market and this has enabled us to create an environment that companies want to be a part of. We are incredibly proud of what has been achieved and look forward to completing deals on the remaining space.”
Mark Canning, Director at Canning O’Neill, added;
“Few schemes in the North West of England can boast of such a comprehensive array of occupier amenities which enables EQ to compete with the City Centre in providing great product and representing great value for money. Given that prime Manchester City Centre overheads are now more than double the costs at EQ, it’s not surprising that the scheme is attracting tenants from literally all around the UK.”
Exchange Quay’s six office buildings range from 26,151 sq ft to 116,684 sq ft. The development is strategically located just off Trafford Road which links Salford Quays to both Manchester City Centre and the major motorway networks via the M602.
Exchange Quay agents are Savills and Canning O’Neill.