One of the UK’s largest property investment companies has added to its Salford Quays holdings by acquiring the Digital World Centre for an undisclosed sum. The Peel Group already owns a high-tech hub and a retail complex on the Manchester Ship Canal site.
Located adjacent to Peel’s MediaCityUK the eight-storey digital centre was off loaded by its previous owners, Charterhouse Property Group and The Lowry Centre Development Company. It also sits next to the Lowry Outlet Centre which Peel bought from the Emerson Group for around £70m two years ago.
“This is an important strategic acquisition for Peel and reaffirms our long-term ambition to invest in the continuing development of MediaCityUK,” commented the group’s chief executive, Steven Underwood. “The Digital World Centre is an excellent addition to our portfolio.”
Currently more than 70 per cent of the centre’s 72,500 sq ft are leased to 10 long-term tenants, among them the international serviced office provider Regus, Telegraph Media Group, Eagle Eye Solutions and Fast Web Media. The ground floor houses a Nando’s restaurant and a Craft Brew café bar.
Stephen Wild is managing director of MediaCityUK and claims the purchase of the Digital World Centre is a “fantastic step forward” for MediaCityUK.
“With occupancy levels continuing to increase, as we expand the choice of flexible office space and enhance the destination offering for visitors, it’s crucial that we maintain our commitment to providing small creative enterprises with choice and flexibility to support their organic growth,” Wild said. “Equally, it’s essential that we meet the demands of the burgeoning number of digital and tech start-ups.”
Manchester-based Peel — which owns nine-million square feet of real estate assets and 33,000 acres of land — was a key player in the regeneration of the former Port of Manchester.
Occupying 200-acres which once housed the dock’s Pier Nine warehouses, MediaCityUK was developed to attract the creative industries with the BBC among its principal tenants. Peels’ other main holding is the Lowry Outlet Mall with Cadbury’s, Marks & Spencer and Costa Coffee among its anchor stores.
