Eversheds Sutherland agrees pre-let at Two New Bailey Square27th March 2019
One of Manchester’s longest standing and prestigious global legal practices has agreed a pre-let at New Bailey’s latest office scheme, Two New Bailey Square.
Eversheds Sutherland will take approx. 50,000 sq ft across the part 8th, 9th and 10th floors of the ten-storey development on a 15-year lease and will also have its own ground floor reception as part of the letting agreement, giving its employees and clients more freedom, privacy and ease of access. It is relocating its 300+ strong Manchester team from Eversheds House on Great Bridgewater Street where it has operated from for nearly 20 years.
New Bailey, which is located just across the bridge from Spinningfields on the banks of the River Irwell, is being delivered by The English Cities Fund, a joint venture between Muse Developments, Legal & General and Homes England.
Eversheds Sutherland has had a requirement for new premises for some time and chose New Bailey due to its position in the market as one of the leading destinations for business in the city.
This latest letting at New Bailey follows the recent announcement that LA-inspired food and wellness venue, FoodWell has taken 9,000 sq ft unit on the ground floor of One New Bailey, further establishing the scheme’s credentials as a premier mixed-use development.
Following the recent completion of the second multi-storey car park, New Bailey is at a monumental phase in its development with five projects currently under construction including office scheme Riverside House, Two New Bailey Square and the third phase of residential development at The Slate Yard.
Phil Mayall, regional director at The English Cities Fund, said: “Our first office building, One New Bailey, has already attracted organisations such as Freshfields and WHIreland, so we had no doubt that the second building would continue to act as a magnet for high profile professional services businesses.
“We are obviously delighted to welcome Eversheds Sutherland to Two New Bailey Square. The fact that such a high-calibre legal practice has taken two and a half floors on a long lease not only illustrates its great confidence in the development, but it is also testament to the building’s high-quality credentials and the wider business and leisure environment that the team has created at New Bailey.
“This is an exciting and promising start to 2019, and a very busy time for New Bailey, as we look forward to making further announcements in the coming months.”
Salford City Mayor, Paul Dennett, said: “It’s fantastic news that Eversheds Sutherland has decided to choose New Bailey as its new home in the City of Salford, further demonstrating that Salford is fast becoming a destination of choice for many businesses operating in the business, financial and professional services sector and a city where firms want to do business, create opportunities and access talent.
“Eversheds’ move to New Bailey also comes at a time when this part of the city continues to see significant investment in Greengate, Chapel Street and at a time when the ambitious joint-masterplan between the University of Salford and City Council launches its prospectus to the market. New Bailey’s proximity to The Crescent will provide Eversheds with access to good infrastructure, skills, innovation and research and development, demonstrating the city’s continued commitment to industrial collaboration in its approach to place-making.”
Michael Clavell-Bate, Eversheds Sutherland Senior Office Partner, Manchester commented: “We are excited to confirm our move to Two New Bailey Square. This new building will provide our staff, clients and visitors with a comfortable and contemporary environment fit for a modern, flexible legal practice.”
Cushman & Wakefield acted for New Bailey and OBI Property acted on behalf of Eversheds Sutherland. Cushman & Wakefield and JLL are joint agents at New Bailey.