Home Office and TalkTalk on course for Soapworks
THE Home Office and TalkTalk have become two milestone lettings at global alternative asset manager The Carlyle Group’s Soapworks scheme at Salford Quays.
They will occupy 160,000sq ft of the building as part of Carlyle’s joint venture with Nikal Abstract Securities.
TalkTalk has agreed to take 106,000sq ft on a 15-year lease which is the largest office deal this year in Greater Manchester in the speculative office space sector and the second largest deal in Salford Quays since the BBC announced its relocation to Media City UK in 2007.
The deal is a coup not only Soapworks but for the Greater Manchester area.
It represents a major milestone for TalkTalk, as the value for money broadband provider will bring together its entire North Western presence to Salford Quays and the wider Media City area.
This is the second letting for TalkTalk at the Soapworks development, having taken 20,000sq ft on a 10-year lease in October 2014 for its meeting and training facility.
The letting follows hot on the heels of a separate deal to The Home Office which has agreed to take 54,000 sq ft on a 10-year lease. The Home Office will relocate its current services from a number of separate premises around the Greater Manchester area including the airport under one roof. The move is due to take place in June 2016.
The Carlyle Group and its joint venture partners were advised by Chris Mulcahy director at letting agents JLL whose joint agents are Canning O’Neill.
Ben Du Boulay, director of The Carlyle Group, said: “When we commenced the redevelopment of the former Colgate factory in Salford, we were confident that there was a strong latent demand from regional occupiers across both the public and private sectors for high quality office space, particularly if it was located in such an iconic an historical building as Soapworks. Both lettings are a significant endorsement of that belief.
“Our offering of flexible, convenient and uniquely located office space is attracting interest from the highest calibre of businesses and we are looking forward to a long and successful relationship with the newest addition to our community.
“Soapworks is the largest wholly speculative office development outside London, presenting a viable alternative to city centre office space that addresses the ongoing shortage of commercial options in the region.”
Nigel Sullivan, group HR director at TalkTalk said: “The offices in Soapworks will be fantastic for TalkTalk. As a technology company, it’s important that our working environment reflects our digital first culture. It’s exciting to be moving to a building that offers best in class facilities and will be a great investment in Manchester.”
Phase one and two at Soapworks totals around 230,000sq ft. Only around 50,000sq ft now remains available in this Phase and there is strong interest in this space. Phase three can bring forward up to 160,000sq ft.
