Kalmia Records Blog

Mark Harris, director of The Carlyle Group, recently announced the company’s decision to restore and renovate buildings in the Ivy Wharf site, which covers nearly 8.42 acres of the Salford Quays area in Manchester. This site is purported to be the largest available site for shared office development and renovation in the area.

The company is planning this restoration along with Abstract Nickal, and has already submitted proposals to the concerned authorities for approval.

Ivy Wharf was originally purchased by Carlyle in 2008 through the funds available in the third European Real Estate Fund. A major project in the renovation plan includes the restoration of Soapworks, the Colgate factory at the Salford site, which is estimated to cost around £25m.

According to the proposed plan, the Colgate factory is going to be restored into one of the largest office spaces in the area, spanning over 380,000 sq ft. The ground floor has been earmarked for consumer space. Further, the plans also propose extending the existing factory to include a retail area, a hotel with 200 beds, a restaurant, and more office space.

Harris claims that this renovation will be an attempt to rejuvenate the historical importance of the area while providing excellent space for working, living and leisure. Mark Glatman, Chief executive of Abstract, has also stated that his company is thrilled to be working on this project, especially after witnessing the support it has received from all quarters.