November 7, 2009
Salford Soapworks to be turned into office space
Carlyle Group and Abstract Nickal have submitted a new planning proposal for the Salford site that contains plans to regenerate buildings including the £25m renovation of the previous Colgate factory, Soapworks.
The planning application in particular is marked for Ivy Wharf which covers 8.42 acres in Salford Quays. It describes a plan to renovate the factory building that is found within the site.
According to the description of the scheme the factory will be converted into 380,000 sq ft of office space that entails consumer space built onto the ground floor. It also adds an extension to the Soapworks factory that will include retail area, more office interiors space, a 200 bed hotel, and residential space.
Director of The Carlyle Group, Mark Harris, stated that the plans to change the Ivy Wharf area are based upon the company’s commitment to invest in the region of Manchester, which it believes can benefit greatly from continual development.
The development site is one of the largest that is currently available in the area of Salford Quays.
Carlyle originally bought the site with its third European Real Estate Fund in October of 2008.
Chief executive of Abstract, Mark Glatman, stated that the company has been encouraged due to the high level of support that it has already received on the current project. According to Harris, the goal of the scheme is to create an area that reflects the historical value of the community, while providing the region with excellent quality office space and amenities.
