Accountancy and business software and services provider Sage has committed to Hunter Real Estate Investment Managers’ 433,637 sq ft Exchange Quay office development in Salford Quays for a further 10 years with a newly refurbished 28,000 sq ft suite.
Sage has been expanding within Exchange Quay since it first took occupation 15 years ago and is currently located over two offices in Number 3 and Number 7 within the development.
Sage has now committed to two and a half floors within Number 1. The office comprises 28,000 sq ft with an option on further space to allow for future growth. Sage will be operational within the new office suite by the end of summer 2015.
Since the start of this year, according to Hunter 40,000 sq ft of lettings have completed at Exchange Quay to both new and existing occupiers including GlaxoSmithKline Research & Development, Boxchange Associates, Wurth Electronics, North West Employers, international consultancy RPS and marketing agency K2L.
Hunter is currently investing £10m into a refurbishment programme to upgrade the six office buildings that make up Exchange Quay to Grade A specification and create a reworked amenity offering.
Exchange Quay’s six office buildings range from 26,151 sq ft to 116,684 sq ft. The first of the six refurbishments, Number 8, has been completed and Exchange Quay’s agents are quoting £16/sq ft on new lettings. The full works at Exchange Quay are set to complete in autumn 2015.
Andrew Moffat, fund manager at Hunter, said; “This commitment demonstrates that our occupiers appreciate our vision for the newly remodelled Exchange Quay and understand the benefits that our investment will provide. We have had a great start to the year with a real flurry of lettings and are looking forward to continuing this success as the works progress.”
Agents on Exchange Quay are Canning O’Neill, Matthews & Goodman and Savills. Sage was represented by Vail Williams.