New owner appoints agents to revive Exchange Quay
MANAGING and lettings agents have been confirmed for Exchange Quay in Salford, the 433,600 sq ft office complex in Salford that was bought by an unnamed American investor last month.
Edinburgh-based asset manager Hunter Property Fund Management (HPFM) has appointed Matthews & Goodman alongside existing agents Canning O’Neill and Savills who have been retained.
HPFM has appointed Cushman & Wakefield as managing agent which will dedicate a team to the site and its tenants.
The new owner has pledged to invest £10m on the scheme, which consists of around six buildings ranging in size from 26,151 sq ft to 116,684 sq ft. The programme will involve internal and external improvements to the buildings and the wider environment.
A number of large occupiers, such as Barclays, have left in recent months and it is said to be more than half empty. Occupiers include Kin-Tec Electronics, Future Electronics, GAB Robins and CH Robinson.
Mark Hunter, managing director of Hunter Property Fund Management, said: “We are strongly committed to making Exchange Quay Greater Manchester’s best office development and it was crucial to ensure that as well as appointing the right managing agent to look after our valued tenants, we have the right agency team to re-launch the scheme to the marketplace.
“All three firms have extensive regional market knowledge and the existing agents bring superb historic knowledge into the mix. Our entire project team is working hard on the first phase of our plans and in early 2014 we will be able to showcase our designs. It is an exciting time and we are confident that we have the right team to represent this important development.”
Canning O’Neil director Mark Canning, who has worked on Exchange Quay for almost 20 years said: “Exchange Quay started life as one of the North West’s flagship schemes and this new investment will enable it to resume that mantle. All the key components of location, connectivity and flexibility to accommodate a broad range of occupiers are there and the superb new quality offices and facilities will be the final tick in the box.
“The whole of MediaCity has taken on a life of its own and Exchange Quay will now be able to lead from the front and deliver occupiers the full package.”
