Work on £65m office block in city centre nears completion

Work is nearing completion on a £65m nine-storey officer building in Salford.

Building and project consultancy Paragon is advising on the second and final phase of  the scheme on behalf of a fund advised by Tristan Capital Partners called EPISO 3.

Named 100 Embankment, the 166,000 sq ft Grade A office accommodation building is located on the site of the former Manchester Exchange station in Salford’s Greengate neighbourhood.

The building overlooks Manchester Cathedral and is part of a masterplan to create a new corporate centre for the city.

100 Embankment is being delivered by Ask Real Estate and the Richardson family in a joint venture with Tristan Capital Partners’ Fund and Salford City Council.

A forward funding agreement has been signed with Salford City Council and the build is scheduled for completion in June of next year.

Paragon’s team, led by Manchester-based associate director James Quirk, is providing project monitoring during the build.

A sister building, 101 Embankment, was completed in 2016, also under Paragon’s oversight.

The ten-storey building achieved one of the largest lettings in Greater Manchester in recent years when Swinton Insurance Group agreed a lease on all 165,000 sq ft of space for 1,500 of its employees.

The two buildings at Embankment are surrounded by retail and workspace units and stand above a 442-space underground car park operated by Q-Park.

Paragon associate director James Quirk said: “We share Tristan Capital and Ask’s vision for providing Salford with world-class office accommodation, attracting further inward investment and contributing to the ongoing regeneration of the city centre.

“100 Embankment is another excellent office development for Salford, and we have every confidence it will prove to be as transformative and successful as 101 Embankment.”

Paragon opened its Manchester office in 2015 with just two directors. Today, the consultancy employs 20 people based at the Freetrade Exchange on Peter Street in the city centre.

CBRE and Cushman & Wakefield are the agents for 100 Embankment.