English Cities Fund has submitted a planning application for a 125,000 sq ft office building as part of the business element of its Salford Central scheme.
Known as One New Bailey, the office will be situated on the site of the existing Ralli Courts offices on Stanley Street. The building has a completed value of £51m.
Funded by Legal & General, the office will be developed by ECf, a joint venture between Muse Developments, Legal & General Property and the Homes & Communities Agency. The JV hopes to secure planning approval by July 2014, with construction commencing in September 2014. The project is due for completion in September 2016.
The New Bailey development includes a £12.5m, 143-bedroom Premier Inn hotel, which is under construction and due for completion in October 2014, and a 615-space multi-storey car park, due to complete in November 2014.
Phil Mayall, development director of ECf, said: "The planning application marks a significant point in the development of the New Bailey element of the Salford Central scheme. One New Bailey will provide high quality office facilities that will encourage firms to move into the city and provide a boost to the region's economy."
Adam Kerr, head of long income transactions at Legal & General Property, commented: "Forming an important element of ECf's wider inner city regeneration, we believe that the One New Bailey scheme will act as a catalyst for further investment into Salford, attracting new companies to the area or allowing local firms to expand and therefore bringing a significant number of new jobs to the area."
One New Bailey was designed by RHWL Architects, which is advising as both masterplanner and lead designer for the building.