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Peel secures £360m of debt for mediacity:uk at Salford Quays |
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Thursday, 15 November 2007 |
Property company Peel has secured £360m of debt facilities from the Bank of Scotland to help finance its substantial requirement for cash as it seeks to develop its 200 acre site at mediacity:uk.
The first phase of the development, the 37 acre site across from the Lowry is underpinned by the BBC’s contractual commitment to almost 500,000 sq ft of space and it is probable that Salford University will be relocating a Faculty to the Quays which will require an additional c400, 000 sq ft of space.
Peel’s ongoing discussions with Granada are also still expected to conclude with the Quay St company relocating to the Quays – albeit adjoining the Imperial War Museum rather then alongside the Beeb itself.
Peel’s ambitions are for over 3 million sq ft of occupied space within phase one.
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