Salford plans submitted by Carlyle and Abstract Nikal

Michael Hunt

Global private equity firm the Carlyle Group and joint venture partners Abstract Nikal, based in Manchester, have submitted an outline planning application for an 8.42-acre site in Salford Quays.

The site was originally used by Colgate for toothpaste and deodorant production. The plans also include a detailed application for the regeneration of the former factory on the site.

The application was submitted following a public consultation and included the redevelopment of the factory, renamed as Soapworks, into a 380,000 sq ft office scheme.

Marketing for pre-lets is already underway on floor plates of up to 85,000 sq ft. The project will be developed in stages, subject to the receipt of planning approval, with the first phase totalling 100,000 sq ft.

In addition, outline planning includes a 200-bed hotel, a retail element, and residential.

Carlyle has joined with Nick Payne and Alan Murphy's Manchester-based Nikal and ex-Akeler chief Mark Glatman's Abstract to form a three-way joint venture to redevelop the site.

This is Carlyle's second development in the Manchester area. In 2007, it acquired office developments, Three and Four Piccadilly Place, in Manchester city centre from Argent.

The Carlyle Group bought the site for £30m in October last year.

The development is known as Ivy Wharf and Canning O'Neill is the agent for the scheme.

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