Building and project consultancy Paragon is advising on the second and final phase of a £65m nine-storey office building in Salford, on behalf of a fund advised by Tristan Capital Partners called EPISO 3.
Named 100 Embankment, the 166,000 sq ft Grade A office accommodation building is located on the site of the former Manchester Exchange station in Salford’s Greengate neighbourhood. It overlooks Manchester Cathedral and is part of a masterplan to create a new corporate centre for the city.
100 Embankment is being delivered by Ask Real Estate and the Richardson family in a joint venture with Tristan Capital Partners’ Fund and Salford City Council. A forward funding agreement has been signed with Salford City Council and the build is scheduled for completion in June 2020.
Paragon’s team, led by Manchester-based associate director James Quirk, is providing project monitoring during the build.
A sister building, 101 Embankment, was completed in 2016, also under Paragon’s oversight. The ten-storey building achieved one of the largest lettings in Greater Manchester in recent years when Swinton Insurance Group agreed a lease on all 165,000 sq ft of space for 1,500 of its employees.
The two buildings at Embankment are fringed by retail and workspace units and stand above a 442-space underground car park operated by Q-Park.
Paragon associate director, James Quirk, added: “We share Tristan Capital and Ask’s vision for providing Salford with world-class office accommodation, attracting further inward investment and contributing to the ongoing regeneration of the city centre
“100 Embankment is another excellent office development for Salford, and we have every confidence it will prove to be as transformative and successful as 101 Embankment.”
Paragon opened its Manchester office in 2015 with just two directors. Today, the consultancy employs 20 people based at the Freetrade Exchange on Peter Street in the city centre.
Paragon has additional offices in London, Esher, Manchester and Bristol. Founded in 2009, it is one of the largest independent building and project consultancies in the UK with a turnover of £22m and nearly 200 people.
The consultancy has expertise in all aspects of building surveying, project management, project monitoring, cost consultancy, M&E consultancy, environmental consultancy, occupier services, drone services, dispute resolution support, rights of light and party wall services.
CBRE and Cushman & Wakefield are the agents for 100 Embankment.