Salford City Council have approved planning for One New Bailey a 125,000 sqft 8 storey office development. The development is a joint venture between Muse Development, Legal and General and the Homes and Communities Agency who have combined to form English Cities Fund.
The scheme is located on the banks of the River Irwell and is next to the iconic Spinningfields and on the site of the existing Ralli Courts building. Demolition is due to commence on Ralli Court and the development is expected to be completed in autumn of 2016.
The property, designed by RHWL Architects, is estimated to have a completed value of £51 million and will be developed to BREEAM Excellent standard. The approval of the planning permission is a significant step forward for the development and the regeneration of the wider area.
The property forms part of Salford Central, a major regeneration scheme which will see the regeneration of over 50 acres of Salford City Centre, centred around its historic core. Salford Central has the potential to deliver over 2 million sq ft of commercial floor space together with leisure, community and creative industry space and 800 residential units.
The scheme is backed by the Salford City Council (Salford Central) CPO, confirmed in 2012, which saw the compulsory purchase of a number of buildings as sites in the locality, including Ralli Court.