Regeneration work to begin on Salford Quays site

Following the successful first phase at Anchorage 2, refurbishment work is now set to begin on Anchorage 1 at Salford Quays, after developer and asset manager Canmoor refinanced the estate with Santander.

Phase one of the multimillion-pound estate refurbishment programme completed last year, with Anchorage 2, the central office hub, now entirely transformed.

Anchorage 1 will now follow suit, with works to the ground floor reception and external entrance area set to transform the arrival experience.

Floorplates 1-6 will also be updated with a new ‘Cat A’ fit-out, which will include open plan layouts and exposed services, following the design of the upgraded floors at Anchorage 2.

The fourth floor will see the biggest transformation and alongside new WCs, staircase and lobby areas, a series of smaller office suites will be installed, providing space for a greater variety of businesses in the building.

The estate refinancing facility with Santander also allows for CapEx funds to deliver the refurbishment programme.

Ian Murray, director at Canmoor, said: “Canmoor and our partner have built a strong working relationship with Santander which has allowed us to continue with our transformation of Anchorage.

“It is a challenging time for many at the moment, so we are extremely pleased to have secured the refinancing arrangement and continue with our ambitions for the estate.

“We are working closely with the site contractor, ADT, to ensure that we are in line with the Government guidelines and that safe working practices are in place.

“Anchorage 2 is completely transformed now that the renovation works are complete, and we are looking forward to seeing the same result with this next building, whilst still prioritising the health and safety of all those involved.”

Graham Yates, director of real estate finance at Santander, said: “Santander’s real estate team is delighted to have completed for Canmoor the refinance of two office buildings at Anchorage, Salford Quays.

“This is really positive news in the difficult times that we find ourselves in.

“This new-to-bank deal reinforces Santander’s support for the real estate sector, and we look forward to building a long and fruitful relationship.”

Last year the first phase of the Anchorage regeneration completed with the entire ground floor and atrium of Anchorage 2 undergoing extensive refurbishment, resulting in a tenant-friendly, contemporary concourse with collaborative workspace and dedicated facilities to boost tenant wellbeing.

As part of this first phase of renovation, all vacant floorplates at Anchorage 2 were also comprehensively refurbished, and the previous vacant 45,000 sq ft has now been let.

Work on Anchorage 1 is due to complete by this October.