Eversheds confirms Two New Bailey move
The law firm has confirmed it will be taking 50,000 sq ft over three floors at English Cities Fund’s Two New Bailey in Salford.
Place North West first tipped the move in April last year, and the legal practice has now formally signed a deal to move more than 300 staff from its existing base on Great Bridgewater Street.
Two New Bailey, being built by Bowmer & Kirkland for the ECF, a joint venture between Muse Developments, Legal & General, and Homes England, is due to complete by the end of the year.
Aviva is forward-funding the building, which totals 188,000 sq ft and has floor plates of around 18,000 sq ft. Place North West reported last year that Eversheds had chosen New Bailey over a final shortlist that also included 125 Deansgate and Landmark, while Windmill Green and 11 York Street were also considered.
OBI Property acted for Eversheds Sutherland, while Cushman & Wakefield acted for New Bailey. Cushman & Wakefield and JLL are the joint agents for the scheme.
Phil Mayall, regional director at The English Cities Fund, said: “Our first office building, One New Bailey, has already attracted organisations such as Freshfields and WHIreland, so we had no doubt that the second building would continue to act as a magnet for high profile professional services businesses.
“We are obviously delighted to welcome Eversheds Sutherland to Two New Bailey Square. The fact that such a high-calibre legal practice has taken two and a half floors on a long lease not only illustrates its great confidence in the development, but it is also testament to the building’s high-quality credentials and the wider business and leisure environment that the team has created at New Bailey.”
Salford City Mayor, Paul Dennett, said: “It’s fantastic news that Eversheds Sutherland has decided to choose New Bailey as its new home in the City of Salford, further demonstrating that Salford is fast becoming a destination of choice for many businesses operating in the business, financial and professional services sector and a city where firms want to do business, create opportunities and access talent.
“Eversheds’ move to New Bailey also comes at a time when this part of the city continues to see significant investment in Greengate, Chapel Street and at a time when the ambitious joint-masterplan between the University of Salford and city council launches its prospectus to the market. New Bailey’s proximity to The Crescent will provide Eversheds with access to good infrastructure, skills, innovation and research and development, demonstrating the city’s continued commitment to industrial collaboration in its approach to place-making.”