Property round-up: Anchorage One; Proman Recruitment; Stockport Council; Regional Property Solutions; Collinson Construction; DTZ Investors

Anchorage One

Canning O’Neill and Knight Frank have been instructed as joint letting agents for Anchorage One on Salford Quays.

The appointment follows the acquisition of The Anchorage by investment manager, Investcorp, in the summer of 2021.

Regional asset manager Citivale was appointed by Investcorp and Citivale has now selected Canning O’Neill and Knight Frank as the letting agents for the scheme.

Around 30,000 sq ft of fully refurbished air-conditioned space is available to let in Anchorage One in suites from 1,076 sq ft and individual floors of 5,550 sq ft.

Matt Shufflebottom, of Knight Frank, said: “There is a very limited supply of high quality smaller offices available in MediaCity and wider Salford Quays to meet the market demand. Citivale will shortly be on site to create two floors of smaller fitted workspace leaving three full floors still available.”

Mark Canning, of Canning O’Neill, said: “Lettings at Anchorage only really took off once the ground floor of Anchorage Two was completed.

“This area provides a business lounge, café, convenience store and bike hub. These amenities, together with an onsite Metrolink station and all the amenities of MediaCity a short walk away, makes Anchorage a very exciting proposition.”

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Think Park

Matthews & Goodman has advised Proman Recruitment, a European agency leader which supplies temporary, contract and permanent workers to the supply chain industry, on the relocation of its head office.

The firm has taken 6,282 sq ft on the ground floor of Building Two at Trafford Park’s Think Park scheme.

The new ‘plug and play’ office space will house 55 staff members and benefits from a host of on site amenities including a gym, restaurant, auditorium and client lounge.

Matthews & Goodman advised Proman on all aspects of its workplace strategy and relocation, from the acquisition of the new head office, to project managing the fit out, to providing dilapidations advice on the firm’s current premises.

Steve Brittle, from the national business space team at Matthews & Goodman, said: “The main driver for the relocation was the firm’s desire to optimise their workspace during the pandemic. They sought space which facilitated a collaborative, blended working environment whilst also being reflective of their brand and culture.

“Think Park delivered on all of these objectives.”

Patrick Ramsdale, strategy & corporate resources director at Proman, said: “This move from our ‘spiritual home’ represented a significant culture change to an established recruitment business.

“We wanted to provide an engaging and professional work environment to our employees and give them the amenities and platform to develop individually and as a business.

“Matthews & Goodman identified a number of options, however, Think Park immediately felt like the perfect fit. Now the refurbishment is complete, we are delighted with our new head office.”

Proman Recruitment was advised by Knights Solicitors. The landlord was advised by JLL.

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Designs for the new scheme

Stockport Council has approved plans to put a new 21st century library at the heart of a new £14.5m, Government-funded development in Merseyway with the aim of bringing thousands of visitors back to Stockport.

This decision will transform Stockport town centre to help the town overcome the economic devastation felt by high streets across Britain by the impact of COVID-19. It will also improve the lives and educational prospects of tens of thousands of children across Stockport as well as 11,000 adults across the borough who either cannot read or can barely read.

The decision means that Stockport’s town centre library services will move from the current Central Library building on the A6 into Stockroom, a new £14.5m learning and discovery space funded by the Government’s Future High Streets Fund (FHSF).

Evidence from around the UK shows that creating a new 21st century library, café and learning space in Merseyway will breathe new life into vacant retail units and bring thousands of visitors back to Stockport town centre as other, similar developments up and down the country have done.

According to latest data from the footfall counter Springboard, nationally the number of shoppers in towns and cities across the UK is still down a quarter (23.2%) on December 2019.

Cllr Elise Wilson, leader of Stockport Council, said “This is in the best interests of the people of Stockport for the long term. This is a once in a lifetime opportunity to spend £14.5m of government money to improve our town centre and to help hundreds of our businesses build back from the economic devastation of COVID-19 by creating a learning and cultural space for the whole borough, which will attract thousands of much needed visitors back to Stockport town centre.

“We are committed to helping Stockport build back better from the economic devastation of COVID-19 while also committing to preserving use and access of the current Central Library building.”

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Media House

Media House, a freehold office investment at 14 Richmond Road, Bowdon, South Manchester, has been sold by LMO Properties to a private pension fund for £415,000.

The self-contained office building, which provides 1,000 sq ft of accommodation on basement, ground and first floors, is let to Play on Football on a three-year lease from November 2019, at a rental of £23,000 per annum, reflecting a gross yield of 5.5%.

Daniel Lee, managing director, Regional Property Solutions, who sold the property on behalf of the vendor, said: “This investment was a rare opportunity to acquire a character property in the heart of Bowdon and has, in fact, been snapped up by a previous owner in an off-market sale. We are instructed to continue to manage the property on behalf of the new owners.”

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The proposed school facilities

Construction work is under way on a £3.16m sporting facility at King Edward VI Grammar School in Louth, Lincolnshire, by Lancashire contractor, Collinson Construction.

The company is building a new five-court sports hall for the school, in addition to a dance studio, fitness suite, changing rooms and office space.

Designed in line with Sport England design guidance, the double-height sports hall will also feature an external viewing platform, providing elevated views to the school’s green spaces and new football pitch.

Robert Duxbury, managing director at Collinson Construction, said: “We’re pleased to be working with King Edward Grammar to bring these fantastic facilities to life, which will not only enhance the sports provision for the school’s pupils, but will benefit the wider Louth community, too.”

James Lascelles, headmaster at King Edward VI Grammar School, said: “We’re delighted to be working alongside Collinson Construction to create this state-of-the-art space that will serve our students and the local community for many generations to come.”

The materials used for the project reflect a natural palette, with the external façade of the sports hall clad in cedar timber, while a dark grey profiled roof will work harmoniously with the traditional dark grey slate roofs which adorn the school’s current buildings.

The single-storey ancillary building will be built in brickwork to maintain a heritage link to the school’s Grade II-listed buildings, with the brickwork and stonework also providing a close colour match to that of neighbouring St James’ Church.

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King Street

DTZ Investors has announced a bumper year at retail and leisure destination King Street in Manchester city centre, following a raft of lettings during 2021.

Nine brands have committed to leases at the iconic shopping district in 2021.

DTZ became a majority stakeholder of King Street in 2016 and has since worked to reposition the street to nurture one of Manchester’s most creative and culture-focused city centre areas.

The landlord, which owns 65% of total real estate on King Street, leases vacant units to smaller brands as part of its brand activations strategy, attracting companies such as sustainability, diversity, and cost-conscious, The Pop-Up Club and multi-sensory experience provider Lazerian Art.

The street has also welcomed several national retailers who have opened their first stores in Manchester, including Crepes Locker, international salon Nail’d It, cosmetic dentist Smile Direct Club and American baked goods company Cinnabon. Global brand The White Company also reaffirmed its commitment to the street by signing a renewed lease.

Tom Royston, director at DTZ Investors, said: “We are really pleased with the progress at King Street. Our vision has always been to attract tenants by providing flexible leasing options with particular focus on retail which has allowed us to bring a high quality shopping experience and some of the UK’s leading food and beverage operators to King Street.

“The success we have experienced this year on the back of a turbulent time for the high street is really promising, and we’re looking forward to building on this by attracting further tenants to complement the diverse environment we have created.”

Jonathan Thompson, from LTL, letting agents on the scheme, said: “We have seen some incredible brands commit to King Street over the last year and believe this is due to our flexible leasing strategy and the calibre of brands already occupying units on the street. Welcoming some global brands such as Cinnabon and Nail’d It has enhanced our current offering, and we are already 90% fully let.

“Our pop-up strategy has also given a platform to some smaller brands which have been hugely successful since opening their doors.”

Other brands welcomed to King Street in 2021 include Pretty Green’s flagship store, George Thornton Art, King Street Grooming, and Yorkshire Building Society with further lease renewals from Castle Fine Art, Whitewall Galleries, Catalan, Bravissimo, Charles Tyrwhitt, Noho & White Stuff.

Several lettings are currently in the pipeline and are due to complete in the next few months.

LTL and Orme are joint leasing agents for the King Street Estate.

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