Exchange Quays to be put up for sale
SEVEN office buildings totalling nearly half a million sq ft in Salford Quays are expected to go up for sale shortly, according to PropertyWeek.com.
It is understood that Savills is soon to be appointed to sell the buildings at Exchange Quay, an office campus owned by a private trust called the Exchange Quay Master Trust.
The portfolio, expected to go up for sale for offers of £40m or more, is around 30% vacant and presents an asset management opportunity.
It was developed by Charter Developments between 1989 and 1993, but needs extra cash to bring it up to modern standards.
Occupiers include Barclays and Orange, and the scheme generates around £4-5m a year in rent.
Canning O’Neill and Savills are letting agents. All parties declined to comment.
