The issue of lease flexibility is climbing ever higher up the corporate relocation agenda as economic recovery emerges. Working with occupiers to align property deals with business aspirations, Northern Way Property Company sees letting success at Digital Park, Salford Quays.
Office take-up in Salford Quays amounted to just under 200,000 sq ft in 2010; surpassing the five and 10 year averages by 14% and 33% respectively.
Boasting a wide range of successful occupiers including Gerber, Sodexho, The British Red Cross and Swiss Post, the Quays has in many cases become the location of choice owing to its excellent blend of connectivity, amenity provision and value for money in respect of property costs.
Agents Canning O’Neill and Lambert Smith Hampton (LSH), alongside the owners of Digital Park, Northern Way Property Company have been working closely with occupiers to offer leasehold deals that assist local businesses as the economic recovery emerges.
As a measure of its success, Digital Park has recently secured two lettings in as many months.
Following hot on the heels of the letting of Unit 01 to digital imaging solutions company, Business By Technology Ltd (BBT), Topline SEO and its other group companies, which include Jungle Media and My Umbrella, has secured the 3,000 sq ft first floor of Unit 05. An option over the ground floor will facilitate further expansion of the Group.
A third unit is also under offer.
Geoff Hill, Director of Northern Way Properties, commented: "We are extremely pleased to have ended 2010 with a letting to BBT and to start 2011 with a letting to Topline. Letting momentum on the park is building up and we expect to be announcing shortly the letting of a third unit."
Adam Jackson, Office Agent at LSH’s Manchester office, added: “It is well recognised that the economic recovery in the UK will take time. We appreciate that for many businesses their success depends on maintaining competitive overheads and this includes property costs. At Digital Park we are able to package deals that work for occupiers with initiatives such as stepped rents and options on future space if a commitment today is not deemed the best move for the business."
Mark Canning of office property consultants, Canning O'Neill, concluded: "Despite tough market conditions, the opening of the new link road to the M602 and the growing profile of Media City is working in Digital Park’s favour. Digital Park is the ideal location for a company looking to be close to the Media City hub but working within a quality scheme which provides greater identity and ‘own front door’ accommodation."
