Capital & Centric has announced completion on its Foundry development on Orsdall Lane by reporting its first sale.
TV advertising production company The Gate Films will be the first company to occupy space at the £2.7 million Ordsall development.
They are relocating from Ancoats and have acquired two units at just under 4,000sq ft each.
These are now being fitted out as sound stages for the creation and production of TV and film content.
The Foundry ‘digital village’ is built on a 3.5-acre derelict strip of land next to the Manchester Ship Canal in a traditionally deprived but well-placed part of Salford.
Over the road is the Grade I-listed Tudor Ordsall Hall – the view of which from the opposite side of the Ship Canal is now somewhat obscured by the office development.
However there is a new ‘public realm boulevard’ (or paved pathway, to you and me) which will be open 24 hours a day to connect Ordsall Lane with the waterway.
Capital & Centric won planning approval for 12 business units totalling 47,000 sq ft in September 2013 after acquiring the land from Salford City Council.
The build won £1.1 million part-funding from the European Regional Development Fund in June 2014.
The original plans included a pontoon for the Manchester’s Water Taxi project, until that switched its focus to the Bridgewater Canal in June 2014.
Exclusive: Waxis are back! Manchester Water Taxis to start operating on Bridgewater Canal
Capital & Centric report that nine of the 12 business units are now under offer.
Co-founder Tim Heatley said: “Our design led approach has been the key to the success of the scheme, it’s allowed us to be selective over the occupier mix, the incoming businesses really value the aesthetic we’ve achieved.
“We’ve created hybrid work spaces for new ways of working and that’s evidenced by the exciting businesses we’re attracting. It’s great to have completed a super new scheme in my home city of Salford.”
Capital & Centric was formed in 2011 by Adam Higgins and Tim Heatley when they merged Centric Property Group and Capital Properties.
Joint agents CBRE and LSH have been appointed to sell the business units.
