Office Demand At Salford Quays Site Set To Grow

Exchange Quay, the iconic office complex in Salford Quays which was recently bought by US investors, has appointed Matthews & Goodman as its new management and lettings agents.

Asset manager Hunter Property Fund Management (HPFM) acted on behalf of a US investment group which acquired the 433,000 sq ft office complex near Manchester city centre last month. In a move designed to attract new tenants to the Grade A office accommodation, HPFM has now appointed Matthews & Goodman alongside existing agents Canning O’Neill and Savills.

In addition to acquiring EQ’s six buildings, which range in size from 26,151 sq ft to 116,684 sq ft, the new owner has launched a £10m refurbishment programme. The money will be spent on improving the internal areas of the buildings, as well as the wider environment.

Mark Hunter, managing director of Hunter Property Fund Management, said: “We are strongly committed to making Exchange Quay Greater Manchester’s best office development and it was crucial to ensure that as well as appointing the right managing agent to look after our valued tenants, we have the right agency team to re-launch the scheme to the marketplace. 

"All three firms have extensive regional market knowledge and the existing agents bring superb historic knowledge into the mix. Our entire project team is working hard on the first phase of our plans and in early 2014 we will be able to showcase our designs. It is an exciting time and we are confident that we have the right team to represent this important development.”

Canning O'Neil director Mark Canning, who has worked on Exchange Quay for almost 20 years said: “Exchange Quay started life as one of the North West’s flagship schemes and this new investment will enable it to resume that mantle. All the key components of location, connectivity and flexibility to accommodate a broad range of occupiers are there and the superb new quality offices and facilities will be the final tick in the box.

"The whole of MediaCity has taken on a life of its own and Exchange Quay will now be able to lead from the front and deliver occupiers the full package.”

Expert Opinion

Having been involved in all lettings and other asset management evaluations and initiatives at Exchange Quay for the last 20 years and understanding the commitment which HPFM has to the refurbishment project I have no doubt that Exchange Quay has huge potential to meet the growing demand for well-priced, good quality office space in the North West. <br/> <br/>“The site has always benefitted from a superb location and transport links. The development of the surrounding area, including places such as MediaCity, has boosted EQ’s appeal and following this latest investment in refurbishing the site, I expect demand from new tenants will grow significantly during 2014.” <br/> Roy Beckett - Partner