The Carlyle Group and joint venture partner Abstract Nikal have gained consent for their Soapworks regeneration scheme in Salford Quays, subject to subsequent agreement on section 106 contributions.
Salford Council gave detailed planning consent to the scheme at Salford Quays, as well as outline consent for Carlyle’s 8.4 acre Ivy Wharf project, within which it is located.
Carlyle and Abstract Nikal, a joint venture between Mark Glatman’s Abstract Securities and Nick Payne’s Nikal, plan to begin work on completion of the first phase.
The four-storey office building comprises a redevelopment of the boiler house, which is adjacent to the former factory.
The Soapworks scheme will also see the main factory building redeveloped as 380,000 sq ft of offices, plus shops, restaurants and a gym.
Carlyle’s wider Ivy Wharf regeneration which has been granted outline consent, will include an extension to the Soapworks building including a 200-bed hotel, a retail element, homes and additional offices.
Plans for the wider scheme are due to be drawn up ahead of a detailed planing application.
Carlyle bought the site in October 2008 through its Carlyle Europe Real Estate Partners III fund.
Mark Harris, director with Carlyle said: “We have been enouraged by the strong support from both the local community and Salford Council for our plans to refenerate this historic site.
“We remain committed to starting work immediately on the Soapworks site after negotiations conclude reflecting our confidence in both the project and the Manchester region.
“We have already seen strong interest from potential occupiers for the first phase of construction and are in negotiations with a number of potential tenants”.
Nick Payne of Abstract Nikal commented “Soapworks is one of the most exciting and creative developments to happen in the North West over the last few years. The scheme will offer unrivalled floor plates of up to 82,500 sq ft, allowing large occupiers a single floor plate occupation”.
Commercial property consultants Manchester, Canning O’Neill are agents on the scheme, if you are looking for offices to let in the Soapworks, close to MediaCity or offices to rent in Salford Quays, contact the team on 0161 244 5500.
