Anchorage offices to become apartments
Newcastle-based developer High Street Group is understood to be in the process of purchasing Anchorage 3 and 4 from HIG Capital, in order to deliver the conversion of the 64,000 sq ft blocks into 130 apartments.
High Street Group is a collection of three companies that deliver PRS, property development and construction, and hospitality schemes, typically across the North East and Scotland.
HIG purchased the blocks in 2015, in partnership with Cording Real Estate, alongside the adjoining Anchorage 1 and 2, for £26m.
Anchorage 3 and 4 previously housed private healthcare firm Bupa, which has since relocated to its own building in Salford Quays.
On behalf of HIG, asset manager Canmore recently completed the refurbishment of offices within Anchorage 1 and 2 for £8m, and was expected to deliver further works on Anchorage 3 and 4, however this phase never progressed.
High Street Group has submitted its floorplans for the office-to-resi conversion to Salford City Council, although planning consent is not required as the scheme falls under permitted development rights.
Lichfields is the planner, and the architect is AudereBW.
That phrase ‘permitted development rights’ I’ve some developers get away with some disgraceful office to residential conversions…hopefully this won’t be one of them.
By Manc Man
It’s not right, people should be living in houses, something’s gone wrong with all these people living in tiny flats
By Dan
@Dan
Have you ever been to a city?
Or do you just stay at home abusing the wifi in your massive house?
By L