Hamburg Süd take final floor of 17,700 sq ft at BAM Properties ‘Metro’
Salford (Greater Manchester), 29 September 2015 - Hamburg Süd, a German company ranked among the world’s ten largest shipping lines, has taken the last remaining floor of BAM Properties ‘Metro’ office development at Salford Quays. Hamburg Süd, which has been in operation since 1871, has agreed a ten year lease on approximately 17,700 sq ft in this landmark development.
This letting follows BAM’s own decision to relocate its North West office to Metro by taking the second floor comprising circa 17,700 sq ft. This 72,500 sq ft landmark office scheme is now fully let. The other occupiers of this Grade A office building are Sinclair Knight Merz and Insight Direct.
Paul Smith, BAM Properties northern development manager based in Salford, said: ‘It is particularly gratifying to have secured the letting to Hamburg SuÌÌd against a strong short list of alternative sites that were under consideration. Hamburg SuÌÌd has a long standing association with Salford Quays with links back to Manchester Liners and Furness Withy and we are delighted that Metro will now play a part in this important heritage. It is also great that we will be relocating to a building developed and built by our colleagues in BAM.’
Joint letting agents CBRE and Canning O’Neill acted for BAM Properties and Altus Edwin Hill represented Hamburg SuÌd.
BAM Properties is now offering the resultant investment for sale for offers in the region of £19.25 million to achieve a net initial yield of 7.5% through agents JLL.
Editors notes:
- Hamburg SuÌd is relocating from Furness House, Furness Quay, Salford Quays.
- BAM Construction North West is relocating from New Court, Regents Place, Regent Road, Salford.
- Metro has been designed with a strong ecological ethic and has an ‘Excellent’ BREEAM rating. Its design includes water-saving features, reduced CO2 emissions and low energy consumption. The lighting is controlled by brightness and motion sensors, which automatically adjust to daylight levels, other environmental features include dedicated recycling stations, bicycle storage and cyclist shower and locker facilities. It has first-class public transport connections as it backs onto the Exchange Quay Metrolink station. There are 227 car spaces at ground and first floor level, and the Grade A offices on the four upper floors provide floor plates of circa 17,700 sq ft.
- The Hamburg SuÌd Group combines an array of one-source services to create the perfect logistics chain. In container shipping it is represented by two brands: Hamburg Süd as a German carrier and Aliança as a Brazilian shipping company operating vessels under the Brazilian flag. In addition, it is a presence on the world's oceans in bulk and product tanker shipping under the names Rudolf A. Oetker (RAO) and Aliança Bulk (Aliabulk).