The Press Hacker

The Carlyle Group and Abstract Nickal are all set to give some landmark structures in the Salford Quays area a major facelift. Plans have been submitted by the two groups to the relevant authorities.

Though the proposals are aimed at development of the Salford Quays area, the primary focus will be on Ivy Wharf, which occupies over eight acres here. It is the largest available area for shared office development in Salford Quays.

A £25m renovation of the Soapworks factory, which was earlier home to Colgate Palmolive, is included in the plans outlined. The factory building will be renovated to accommodate office spaces spanning 380,000 sq ft, with consumer space in the ground floor. Another part of the proposal deals with an extension of the Soapworks factory to create retail area, residences, a hotel and more office space.

CEO of the Abstract group, Mark Glatman, remarked that their ongoing projects have been very well received and this has prompted fresh construction programmes by the group in Salford Quays.

The Carlyle Group director Mark Harris affirmed his company’s high expectations from the Manchester area. He pointed out that this confidence was demonstrated by the company’s investment here with the funds from the third European Real Estate Fund. Investment and development in Ivy Wharf are part of the company’s focus on real estate in Manchester.

Harris further assured that the historical significance of the structures will be retained while upgrading the services and amenities to make the area suitable for commercial purposes.