Carlyle and Abstract Nikal submit Salford plans

12:16 | 27.10.09

The outline planning application is for Ivy Wharf, an 8.42 acre site in Salford Quays, with a detailed application for the factory building on the site.

The scheme includes converting the factory into a 380,000 sq ft office space with consumer space on the ground floor. Development on the rest of the site will include an extension to the Soapworks building to include a 200-bed hotel, more retail, residential and further office space.

Mark Harris, director of The Carlyle Group, said: “Our plans for the Ivy Wharf development are a further reflection of our commitment to investing in the Manchester region, which we believe will continue to benefit from inward investment, as a significant regional business centre in the UK.”

The partners have undertaken extensive public consultation on the plans for the scheme, which is one of the largest development sites available in the Salford Quays area.

Carlyle bought the site in October 2008 through its third European Real Estate Fund, Carlyle Europe Real Estate Partners III.

Mark Glatman, chief executive of Abstract, said: “We have been hugely encouraged by the level of local support we have received for the project, as we look to create a scheme that takes into account the historical relevance of the site to the local community, together with our aim of fulfilling demand in the region for good quality, well-located space at competitive rates.”

Nick Payne, managing director of Nikal, said: “This project provides us with the opportunity to regenerate a waterfront site along Ordsall Lane, making it a strategically important site for the wider area.

"We have designed a scheme that will cater for a broad range of tenant requirements, but will specifically target those occupiers who want to occupy an iconic building that offers high quality space at an affordable price.”

Canning O’Neill is agent for the scheme.

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