Cording launches Anchorage complex at Salford Quays16 June 2017
Cording Real Estate Group, the Northern European real estate investment and asset management firm, has today launched the first phase of offices at Anchorage, a landmark office complex on the waterside at Salford Quays, Manchester.
Purchased in August 2015 by a joint venture of HIG Capital and Cording Real Estate Group, Anchorage comprises 220,000 sq ft of office space in four buildings and is being refurbished on a phased basis and repositioned into Manchester’s strong office market. Supply in Salford Quays is below 4% and take up in 2016 was twice the running annual average for the area.
Current occupiers in the four buildings include Bupa, Morgan Sindall, Muse Developments, QA Consulting Services and various government departments.
The first space to become available is the top two floors, totalling, 25,000 sq ft, which have been refurbished to a high standard, including new metal raised access floors, metal suspended ceilings, new VRF mechanical ventilation and LED lighting.
The refurbishment has achieved a SKA gold sustainability rating and produced future cost savings of 15% for energy and 20% in annual carbon reduction.
Cording plans a comprehensive upgrade of the large atrium and external areas this summer and to upgrade and release further office space over the next 18 months, including 60,000 sq ft occupied by Bupa, which is moving to its new headquarters nearby in 2018.
The floors are being offered by joint letting agents, JLL and Edwards & Co, for a rent of £20/sq ft.
Peter Dove, Head of Asset Management and Property Management at Cording, said: “The relaunch of this landmark development and the capital we are investing reflect our confidence in Manchester and Salford Quays and our ability to achieve excellent sustainability goals. This new space provides unrivalled value for money at a discount of 30% to the city centre and for its high specification and waterside views, transport links and car parking”.