Private healthcare giant Bupa is to spend £50 million acquiring a new flagship headquarters in Salford Quays.
The grand Regent Building at MediaCityUK will provide 145,000 sq ft of office space for some 2,000 Bupa staff when completed.
When Bupa agreed a 15-year deal with Peel Land & Property Group to lease the entire building in February 2015, it was one of the biggest commerical lettings in Salford in recent memory.
A Bupa spokesman said the buyout plan showed the firm’s “commitment to Greater Manchester” and that the new office would provide a better working environment for staff.
A ground floor gym and restaurant for workers are among the proposed amenities.
Bupa has had offices at Anchorage in Salford Quays for over 20 years.
The health and social care firm currently occupies 120,000 sq ft of office space across four buildings at Salford Quays.
This move will consolidate all their Manchester workers into one place.
The Regent got planning permission from Salford City Council in 2015 and construction started on the six-storey development last year.
It is expected to be completed by 2018.
The plot sits next door to the three 18-storey NV apartment buildings, waterside of the Huron Basin.
The currently vacant land, opposite the Harbour City Metrolink tram stop and sandwiched in between two other office developments, was last used as a public car park.
No extra car parking is planned for The Regent but Peel suggest spare capacity of around 465 spaces at the Harbour City multi-storey car park will be sufficient.
Peel appointed CBRE to put The Regent on the market at a level over £50 million.
It comes after MediaCityUK landowners Peel revealed plans over the next 10 years for 10 new buildings with a combined value of £1bn.
The next 1.5sq m phase includes offices, studios, 370 flats, student accommodation blocks and two new hotels.
Nabarro and Colliers International advised Bupa UK.
Commenting on the transaction, Real Estate partner and head of the Manchester office, Mark Haywood said: “We were delighted to act for Bupa on the acquisition of its new regional headquarters in Manchester.
“We look forward to providing support throughout the development and construction of the site.”
The Nabarro team was led by Real Estate partner, Mark Haywood, assisted by partner Chris Hallam who led on construction and infrastructure-related issues, partner Nathan Jansen and associate David Turner.
Peel Group was represented by Addleshaw Goddard.