(Press release Ask Real Estate:) 16 July 2020 – Ask Real Estate and Tristan Capital Partner’s EPISO 3 Fund, have announced that they have reached practical completion at the 100 Embankment scheme, situated at the point where the two cities of Salford and Manchester meet, opposite the Cathedral.
100 Embankment is the second and final phase of the Embankment scheme in Salford’s Greengate neighbourhood, which has benefitted from extensive regeneration in recent years.
The 166,000 sq. ft, 9-storey, Grade A office building has been delivered by Ask Real Estate and the Richardson Family, in a joint venture with Salford City Council and a Tristan Capital Partners’ Fund.
The building also features a unique two-tier roof terrace, which will be available for occupiers to use at their leisure or book for events.
BAM Construction was appointed as main contractor on the scheme, with a construction programme that supported each partner’s ambitious social value targets.
100 Embankment sits alongside its sister building 101 Embankment, which completed in 2016 and won ‘Commercial Development of the Year’ at 2017’s Insider Property Awards. The building was fully let to a singular tenant, Swinton Insurance, shortly following completion.
Both buildings sit on top of a retained Grade II listed façade, which once operated as Exchange Station. The processional route up Cathedral Approach over the River Irwell was incorporated by the team to ensure a sense of arrival to both businesses and visitors.
Ask Real Estate’s managing director, John Hughes, said: ‘The Embankment project has been a hugely significant one for Ask, and it’s great to be now reaching the final stages of construction. “There are few Grade A office buildings of this size and quality available in such a prime location within the city centre; 100 Embankment is situated next door to Manchester’s retail core – which includes Selfridges, M&S, Harvey Nichols and the Arndale Centre – whilst also being a stone’s throw from the wide variety of bars and restaurants to be found at the Corn Exchange. Similarly, it benefits from second-to-none connectivity, being located next door to Manchester Victoria’s train station and tram stop. Businesses that choose to relocate here can offer their teams a fantastic working environment, and the level of interest we’ve seen from prospective occupiers is testament to that.’
Ian Fleming, regional director at BAM Construction, added:
‘I’d like to extend my thanks to the full site team for their hard work on this landmark scheme, which combined an excellent standard of delivery and a well-considered construction programme which will leave a lasting, positive legacy in Salford. We combined our well-known collaborative working approach with both classical and digital construction techniques to achieve these ultra-modern offices and to overcome some considerable technical and logistical challenges.’
James Brodie, Executive Director at Tristan Capital Partners, said: ‘This is a great achievement for us and the Ask and BAM teams, who have worked seamlessly on the delivery of the second phase of this project. We are pleased to have been involved in the development of two outstanding, modern office spaces as part of Salford’s ongoing Greengate regeneration.’
Salford City Mayor Paul Dennett said: ‘The completion of 100 Embankment is a significant moment for this city. “Salford people have already benefited though employment opportunities during the construction phase and this high-quality office space will generate investment that local people will benefit from for many years to come.’
CBRE and Cushman & Wakefield act as joint agents on 100 Embankment.
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