Exchange Quay £10 million investment programme completes | MIDAS

Exchange Quay £10 million investment programme completes

EQAn investment programme valued at £10 million has recently finished at Manchester’s Exchange Quay offices.

The deal has seen upgrades to the six on-site office buildings as well as a remodel of the public real.

Hunter Real Estate Investment Managers acquired the 433,637 square foot property in November 2013 on behalf of an American investor.

Jeremy Birkett-Jones, investment director at Hunter, said; “Right from the outset we recognised the immense potential in Exchange Quay, which was once regarded as the ‘Canary Wharf of the north’.”

“It was clear to us that such a prestigious scheme in an unrivalled location in the North West would respond to a dedicated investment programme to modernise the office accommodation and create a whole new environment.”

“We have engaged with all the relevant local bodies and worked closely with our design, site and agency teams since the acquisition to ensure that the finished product matches the market demand and this has already been confirmed in the initial lettings we have secured prior to completion of the works.”

As part of the transformation, a range of new occupier facilities have been added including a new restaurant, coffee shops and a Londis retail shop, with an additional post office scheduled to be opened later this year.

James Evans, director of office agency at Savills, said: “The Grade A offices at Exchange Quay are hitting the North West office market at just the right time, as occupier confidence has returned and supply is diminishing.

“The transformation has been about so much more than just the office suites, it has addressed the key factor on occupiers’ wish lists – the provision of the right environment for staff and visitors.

“This, coupled with the accessibility via road and public transport in addition to extensive on-site car parking, has culminated in a very exciting opportunity for the regional office market.”

The investment into the grade A office space indicates that significant investment into the North West office market remains strong as more businesses look to take advantage of Greater Manchester’s attraction as a global commercial hub.

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