Salford acquires strategic Eccles site for £2.5m
The 35,000 sq ft Charles House falls within the area of the town centre the city council is hoping to regenerate.
Salford City Council has acquired the Eccles office block from MHE Investments for £2.5m.
Landlord MHE Investments appointed Knight Frank to find a buyer for the Albert Street site last year, stating it had the potential to be converted into 300 apartments.
However, Salford City Council will demolish the building as part of its wider vision for Eccles. The site backs onto Eccles Shopping Centre, which the authority took control of in late 2022, purchasing the 180,000 sq ft complex from Columbia Threadneedle for around £4.15m.
Salford plans to appoint a development partner later this year to bring forward the wholesale regeneration of its Eccles land holdings.
Demolition of 66,000 sq ft of vacant retail units within the shopping centre to pave the way for the first phase of the project is underway.
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Paul Dennett, Salford City Mayor, said: “We’re committed to the redevelopment of Eccles town centre as a key priority for the city council and a much-needed outcome for residents.
“The purchase of Charles House offers strategic benefits when combined with our adjacent property interests and will enhance the city council’s ability to drive comprehensive redevelopment. This decision is part of our ambitious plan to deliver a new vision for the town centre, a shared vision developed with the community and focused on re-establishing Eccles a vibrant town centre where people can eat, meet, and play.”
Cushman & Wakefield and Mills & Reeve advised the council on the deal.
