Global alternative asset manager, The Carlyle Group, and its joint venture partners Nikal and Abstract Securities, announce that they have let the entire 20,000 sq ft Boilerhouse at the Soapworks development to TalkTalk.
TalkTalk Group has taken a 10 year lease at the Boilerhouse. The company has chosen the site for a new meeting and training facility, which is expected to become operational in March 2015.
The letting, which is one of the largest in Salford’s Media City since 2010, confirms Soapworks as the most sought after new office building in the area and adds to the growing momentum of interest the scheme is generating.
The Boilerhouse, located right on the water’s edge of the River Irwell, boasts a spacious glass atrium, complete with an exterior balcony on the top floor that offers unbeatable views over Manchester and Salford Quays. It forms the first phase of Soapworks, a 400,000 sq ft redevelopment of the former Colgate-Palmolive factory, with Phase II (210,000 sq ft) due to complete in November.
Soapworks’ unique design and Grade A specification, coupled with its location close to Manchester City Centre, is attracting interest from businesses from across all sectors as well as from creative industries. In addition, the scheme’s unique selling point is the floor plates of up to 46,000 sq ft, which provide enormous flexibility for any occupier.
TalkTalk Group, founded in 2003, is Britain’s leading value provider of broadband, home phone, TV and mobile services to businesses and consumers in the United Kingdom. Warrington-based TalkTalk Business is one of Britain’s fastest growing B2B telcos, and TalkTalk TV is the fastest growing TV service. The new location will provide meeting and sales and technical training facilities.
Ben Du Boulay, director of The Carlyle Group, comments: “For such a significant and prolific business as TalkTalk to choose Soapworks as its new facility is a major endorsement of the high quality space we have created here. The Boilerhouse letting gives us really good momentum ahead of the completion of the second phase of the scheme, which is due to complete later this month, bringing 210,000 sq ft of Grade A office space into a very low supply market
“Soapworks offers potential occupiers a premium quality office in a location which has extremely strong transport connections to both Manchester City Centre and surrounding areas, access to a strong talent pool of employees in Manchester and from Manchester University, at rents which are less than half the level of comparable space in the city centre.”
Chris Mulcahy at JLL, letting agents on the Soapworks scheme, comments: “The deal is a milestone letting in Salford Quays and the new transaction with TalkTalk reinforces Soapworks’ position as a vibrant and sustainable commercial office destination within the North West.”
Nigel Sullivan, group HR director at TalkTalk, comments: “The Boilerhouse is an amazing building that will provide a fantastic facility for staff training and development, along with much-needed meeting space. We’re excited about moving in.”
JLL and Canning O’Neill are joint agents on the Soapworks scheme.
For further details about the commercial space available at Soapworks, please contact Jennifer Bamber, Soapworks Manager on 0755 714 0883 or visit www.soapworks.co.uk