One New Bailey, Salford is now almost fully let, following deals to Circle Recruitment and Shawbrook Bank.
Shawbrook Bank, which is currently based on Deansgate, has taken 5,285 sq ft across the third floor of One New Bailey on a 10-year lease with a five-year break. The move was prompted by the firm’s requirement for a larger office base so that it could grow its team and potentially accommodate up to 60 additional people within the next two years.
Specialising in recruiting for the IT, legal, and government / public sectors, Circle Recruitment has taken 1,892 sq ft on the first floor on a five-year lease and is relocating from its current base at Blue Tower, MediaCityUK.
One New Bailey, which was the first office building to be delivered at Salford’s New Bailey development, is located just across the bridge from Spinningfields on the banks of the River Irwell and is being delivered by The English Cities Fund, a joint venture between Muse Developments, Legal & General and Homes England.
Phil Mayall, regional director at The English Cities Fund, said: “One New Bailey has been the anchor development for the wider scheme, and with the variety of high quality, professional businesses now based here, as well as the vibrant leisure scene on the ground floor, this building epitomises what New Bailey is all about.
“New Bailey’s location was a major driver for both Shawbrook Bank and Circle Recruitment selecting the building, and we’re delighted to welcome them both to the scheme.”
One New Bailey is already home to Freshfields Bruckhaus Deringer and WHIreland, with unique restaurants Menagerie and FoodWell on the ground floor.
Steve Ricketts, managing director at Circle Recruitment, said: “This move comes at an exciting time for the company in line with our plans to attract the best talent and expand our IT and legal recruitment teams. One New Bailey’s position at the heart of Manchester’s business community, plus the stunning building itself, make it the perfect new home for us.”
Neil Rudge, managing director of the business finance division at Shawbrook Bank, said: “As Shawbrook Bank continues to expand its footprint across the UK, finding the right location in major cities such as Manchester are paramount to the success of our business. The One New Bailey development ticks all the boxes for both our employees and clients.”
Following completion of the letting to Shawbrook Bank, there is now only one suite of 3,165 sq ft available within the building.
New Bailey is at a monumental phase in its development with four projects currently under construction, including office schemes Two New Bailey Square, Riverside House and 3 New Bailey, as well as the third phase of residential development at The Slate Yard.
JLL and Cushman & Wakefield are the appointed agents on the scheme.