100 reasons to celebrate as work begins at 100 Embankment
Manchester, 6 August 2018 - Construction work has started on 100 Embankment, the second and final phase of the Embankment scheme in Salford’s Greengate neighbourhood.
As well as marking the start of work on site the joint venture team also launched a new campaign called 100 Reasons, which will celebrate the wide variety of people helping to build the scheme and enhance the community in the Greengate area.
The 166,000 sq ft, BREEAM Excellent office building is being delivered by Ask Real Estate and the Richardson Family in a joint venture with a Tristan Capital Partners’ Fund and Salford City Council.
Representatives from the JV partnership and BAM Construction marked the occasion today by completing the concrete sealing of the 23rd steel stub which connects to the frame of the basement car park below. This will form the base of the new 9 storey, Grade A office building. This important milestone means work can now start on erection of the steel frame above ground and the structure of the building will now start to take shape.
Commenting on behalf of the JV partnership, John Hughes, Managing Director of Ask Real Estate said:
‘The second phase of the scheme is now well underway and we are looking forward to seeing 100 Embankment emerge alongside its sister building 101 Embankment. The success of 101 Embankment in securing the Swinton letting is testament to the schemes superb location and accessibility. Being right at the heart of the city centre and only a short walk from the main transport hubs, shops and restaurants Embankment continues to attract significant interest from occupiers and we look forward to now delivering the second phase.’
Explaining the idea behind the 100 Reasons campaign he added:
‘The building’s location, connectivity and local amenity will be celebrated. We will also be working with Salford City Council and BAM Construction to recognise the hard work and achievements of the people who are delivering this building and also those who are helping to create a new community here in Greengate. The campaign will allow us to acknowledge and thank people including apprentices, local community groups, local sub-contractors, schools and individuals who have all had a positive impact in helping to shape this new neighbourhood.’
The people celebrated as part of the 100 Reasons campaign will feature on the scheme’s website, and in social media and press and will be invited to join the celebrations when the building completes in early 2020.
Salford City Mayor, Paul Dennett also said:
‘The start on site at 100 Embankment is a physical demonstration of the continued development and investment in Salford. Once complete this iconic pair of buildings will provide a new corporate centre for the city bringing more jobs and revenue for the local authority. This development is a key example of local government entrepreneurialism, leveraging investment from the local authority to kick-start economic growth and bring in revenue. The council makes a great partner for business and the people of our city benefit from the profits which can be invested back into our services. The 100 Reasons campaign is a wonderful way to show how investment of this scale is already having a positive impact on the lives of individuals involved in the project and I look forward to hearing their stories.’
BAM Construction’s Regional Director, Ian Fleming, said:
‘BAM is one of the UK’s leading main contractors with offices all over the world, but our North West region is very much a local business run by local people. As a Salford based business with our regional office at Exchange Quay, we are committed to making a positive impact on the area and its people, and to giving our local workforce the opportunity to work on such an important landmark building for the area.’
When complete 100 Embankment will sit alongside and slightly proud of 101 Embankment, which was completed in 2016.
Further information: Clare Coyne, Roland Dransfield PR, 0161 236 1122.
Located on the site of Manchester’s historic Exchange Station and overlooking the city’s Cathedral, Embankment has the benefit of an impressive setting. It stands above a 442-space underground car park operated by Q-Park, and is fringed by retail and workspace units. The scheme faces Manchester Cathedral on the opposite bank of the River Irwell, while across the bridge lies Manchester’s main shopping and leisure hub, including the Manchester Arena and a wide variety of restaurants at the Corn Exchange. The area is well-served by a range of public transport options, with Victoria Station and Metrolink in close proximity.
Ask Real Estate
Established in 2000, Ask has built a reputation for being a leader in multi-partner developments, featuring some of the most creative and bold concepts in regeneration, enjoying outstanding working relationships with both the public and private sector. The Manchester-based company now boasts a portfolio of 20 separate projects, comprising over 3 million sq ft of floorspace and generating an end value of £800 million.
Over the last 17 years, Ask has risen to be a market leader, demonstrating a high level of skill and ability in delivering mixed-use developments. From offices to residential and leisure, car parks to business parks, Ask has the experience and track record to produce excellent results. While Ask is proud of its rich heritage in Manchester and the North West, it has recently expanded into other regions and is looking for opportunities to continue to grow its portfolio across the UK.
The Richardson Family
The Richardson family have been active in the commercial property market for over 50 years during which time they have developed over seven million square feet of property. Recent projects include Nickel, junction 28 of the M1, a new spec build 261,000 sq ft warehouse, Concorde, Avonmouth, a new spec build 105,500 sq ft warehouse, Freemans Reach, a 110,000 sq ft office development in Durham, Lincoln Gateway, a £28m, 519 bed student accommodation scheme.
Tristan Capital Partners
Tristan Capital Partners is an employee-controlled investment management boutique specialising in real estate investment strategies across the UK and Continental Europe. Tristan’s pan-European real estate funds include core-plus and value-added/opportunistic strategies with total assets under management of over €9 billion. Tristan is the portfolio manager for core plus funds Curzon Capital Partners III, Curzon Capital Partners IV, Curzon Capital Partners 5 LL and for the private equity funds European Property Investors, LP, European Property Investors Special Opportunities, LP and European Property Investors Special Opportunities 3, LP and European Property Investors Special Opportunities 4 LP. Tristan’s headquarters are in London and it has offices in Luxembourg, Milan, Paris, Stockholm, Frankfurt, Madrid and Warsaw.
With around 20,000 employees, BAM is responsible for the implementation of thousands of projects every year and is currently undertaking projects in more than 30 countries around the world. With a strong presence in Salford, Manchester, BAM has delivered some of the area’s most challenging and well known buildings including 1 Angel Square for The Co-operative Group, No.1 Spinningfields for Allied London, The New Adelphi Building for the University of Salford, The National Graphene Institute for the University of Manchester and Manchester City Football Academy.