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Double coup for Exchange Quay as GlaxoSmithKline and Boxchange take 11,000sq ft

Global healthcare company GlaxoSmithkline Research & Development Ltd (GSK) has signed a deal to move offices from the Digital World Centre to Exchange Quay.

Hunter Real Estate Investment Managers secured the 9,830 sq ft letting this week at Number 4 tower.

Management consultants Boxchange Associates have also signed a five year lease for 1,400 sq ft to relocate to Exchange Quay from Peter House on Oxford Street in Manchester.

It follows four recent lettings totalling over 13,000 sq ft to new occupiers Wurth Electronics and North West Employers, and existing occupiers, international consultancy RPS and marketing agency K2L.

Agents JLL acted on behalf of GSK.

Work started in August last year on a £10 million revamp of the Exchange Quay development, with construction and finished expected to be complete by the end of Q3 2015.

Hunter submitted plans to Salford City Council in April 2014 to revamp the 433,637 sq ft development.

Exchange Quay’s agents, Canning O’Neill, Matthews & Goodman and Savills are now quoting £16 psf on new lettings in-line with the improved market conditions.

Pension firm Aegon signed a 10-year lease for office space in May 2014.

Mark Canning, director at Canning O’Neill, said: “We are delighted to have attracted these high-profile occupiers to Exchange Quay and anticipate further deals to follow as we get closer to completion of the remodelling works.”

Andrew Moffat, fund manager at Hunter, said: “The addition of two new occupiers to Exchange Quay shows a continued commitment to the new-look development. Work is progressing well on-site and we look forward to welcoming and retaining more occupiers in due course.”

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Tom is SalfordOnline.com's News Editor and community co-ordinator.

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