Financial services firm WHIreland has exchanged contracts with English Cities Fund to take 6,610 sq ft at One New Bailey in Salford, Greater Manchester.
The firm, which specialises in private wealth management, wealth planning and corporate broking services, will occupy part of the first floor on a 10-year lease. The deal means English Cities Fund – a joint venture between Muse Developments, Legal & General and the Homes and Communities Agency in partnership with Salford City Council – has let 74% of the 125,000 sq ft building. Last year, law firm Freshfields Bruckhaus Deringer signed to take 80,000 sq ft. Restaurant and bar Menagerie has opened a venue on the ground floor.
With plans to recruit and expand its wealth management and planning teams, WHIreland selected the new development due to its proximity to Spinningfields. The firm is expected to move from its existing offices at 40-42 John Dalton Street to One New Bailey in July.
ECf’s development director, Phil Mayall, said: “One New Bailey is really coming to life now, with the hugely popular Menagerie operating on the ground floor and Freshfields due to move in within the next few months, our vision for a vibrant business and leisure destination is becoming a reality.
“The success of One New Bailey only increases our confidence in the next stages of the wider scheme which we’re looking forward to progressing this year.”
Robert Race, head of wealth management at WHIreland in Manchester said: “Our roots in the city go back to the 19th century and while our existing premises have served us well, our move this summer reinforces our commitment to Manchester and the local economy.”
JLL and Cushman and Wakefield are the letting agents for the New Bailey scheme.
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