Peel snaps up Digital World Centre

THE Peel Group has added to its Salford Quays property empire with the acquisition of the Digital World Centre, a 72,500 sq ft office block.

It sits next to the Lowry Outlet Centre which Peel bought from the Emerson Group for around £70m two years ago.

The Digital World Centre was developed as part of the Lowry arts centre scheme and has been sold by Charterhouse Property Group and The Lowry Centre Development Company, but the deal value was not disclosed.

Around three-quarters of the building is occupied by 10 long-term tenants, including Telegraph Media Group, Regus, Eagle Eye Solutions, Fast Web Media and other digital and media-related companies.

Peel chief executive Steven Underwood said: “This is an important strategic acquisition for Peel and reaffirms our long-term ambition to invest in the continuing development of MediaCityUK. The Digital World Centre is an excellent addition to the portfolio and we regard it as an ideal complement to our purchase in 2012 of the Lowry Outlet shopping centre.”

Manchester-based Peel owns much of the land around the Manchester Ship Canal and was behind the development of MediaCityUK.