Global alternative asset manager, The Carlyle Group and its joint venture partners Nikal and Abstract Securities, announces the letting of the entire first phase of Soapworks, totaling 20,000 sq ft to Vital Services Group.
The letting, which is the biggest deal in Salford Quays since 2010, confirms the Soapworks scheme as the most sought after new office locations in Salford Quays and builds on the strong momentum of current interest in the scheme. Vital Services Group will take up all five floors of the Boilerhouse and will be the first occupier at Carlyle’s ground-breaking development.
As a market leader in engineering, Vital Services Group’s new location at the Boilerhouse has been carefully selected to strengthen its position within the transport, power and communication sectors, with Soapworks offering easy access to the major regional players within the industries.
The Boilerhouse, which completed earlier this year forms the first speculatively built phase of a 400, 000 sq ft redevelopment of the former Colgate-Palmolive factory. The unique design and Grade A specification coupled with its location within MediaCity is likely to attract tenants from across all sectors as well as from the creative industries. In addition, the schemes ability to accommodate 80, 000 sq ft floor plates on one floor is also a unique selling point.
Ben Du Boulay, director of The Carlyle Group, comments: “This letting is a significant step forward for the Soapworks regeneration project, and reflects the quality of the space that we have created in this property. With its unrivalled transport connections, the scheme offers tenants excellent accessibility to both Manchester City Centre and MediaCityUK, and premium quality office accommodation at rents that are less than half the level of comparable space in Manchester City Centre. Having completed and let the Boilerhouse, I am excited about moving onto the next phase of this major regeneration project and creating a new community in Salford Quays.”
John Smith, CEO at Vital Services Group, comments: “This deal gives us a pivotal position in the most sought after office building in the region. The Boilerhouse allows us to expand across the group business but also enables us to keep our connections in the local area. The Boilerhouse met our desires as a business to stay committed to the Salford Quays area as the building is well-located for our staff.”