Catella APAM Completes Deal With The Secretary Of State On Behalf Of Greater Manchester Pension Fund

Greater Manchester Pension Fund (GMPF) along with retained asset management advisor Catella APAM, has expanded government body, The Secretary of State’s, footprint at its iconic Soapworks development in Salford.

The department for Levelling Up, Housing and Communities will occupy 25,000 sq ft on a deal until 2031 returning the asset to fully let.

The Soapworks, formerly the Colgate-Palmolive factory, is situated within 8.5-acres on the banks of the Manchester Ship Canal and totals 230,000 square feet of Grade A office accommodation, with notable tenants including Talk Talk, Home Office and Irwell Valley.

Catella APAM’s Head of Asset Management (North), Andrew Day, said: “This is a significant deal and a clear example of the Soapworks attractiveness in the Manchester office market. With best-in-class amenities, collaboration space, and an events program that blends our tenants working days with wellbeing activities such as Yoga and HIIT classes, as well as pop-up events & food vendors Soapworks generates a sense of community that is important to the modern occupier’.

GMPF were represented by JLL with the Secretary of State advised by BNP.

Following the purchase in 2017 GMPF, along with specialist development manager Bankfoot APAM, has progressed plans to create an additional 130,000 sq ft of Grade A office space and a new multi-storey car park. The plans also seek to deliver up to 450 new residential homes. A planning application is expected to be submitted at the end of 2023.

The Soapworks was also recently mentioned in the ‘How Business went mad for Manchester’ Times article >

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