XPs makes embankment move
100 Embankment is edging towards being fully let, with news of the latest tenant agreement now confirmed. XPS Group, one of the UK’s leading independent pensions consulting and administration businesses, and a FTSE 250 company, will make the move. Recognised as the only UK pensions specialist listed on the London Stock Exchange main market, they have a firm focus on UK pension schemes and also provide wider ranging support to insurance companies in the life and bulk annuity sector.
The Group will join existing tenants already occupying Salford’s prestigious development, across the Irwell from Manchester city centre. The XPS move means that now eight, out of the nine floors of the building, which only officially opened in September 2023 are now fully let.
The popularity and interest in 100 Embankment has not waned since it was reported as Manchester and Salford’s top performing office of 2022. The remaining space of c.12,000 sq ft is now under offer, with the expectation that confirmation of deals that will make the whole development fully let will be before the end of the year.
XPS make the move as part of their growth strategy for the business and will see two existing Manchester and Salford offices amalgamated at 100 Embankment. Around 80 staff will occupy 7,895 sqft on part of the third floor over a 10-year lease. The fit out is currently underway with Cubic Works, with the move expected to be completed by September.
XPS will join other occupants already settled and calling 100 Embankment their home. These include x+why, Deloitte, Aecom and Ridge, who have already made the move to the development which boasts not only Grade A office space, a fantastic location, stunning views and great transport links, but also quality facilities and an enviable sustainability commitment.
100 Embankment was developed as a joint partnership between Ask Real Estate, Tristan Capital Partners and Salford City Council. This latest deal was confirmed between Salford City Council and XPS who were advised by CBRE.
Salford City Council Chief Exec, Tom Stannard, said: “It’s a pleasure to be able to confirm the XPS move to 100 Embankment. This deal further reflects our belief and commitment to excellence we had for this building. We were clear with our strategy for the development, we had a vision and were confident that what we were creating would be a popular, exciting and enticing option for businesses and as we move towards 100 Embankment almost being fully let, it’s clear we were fully justified in the approach we took.
We welcome them to the building, as I’m sure our other existing tenants will, and I look forward to seeing them go from strength to strength here in Salford.”
Speaking on behalf of XPS, Tony Rich, Head of Property, Facilities Management & Procurement said: “We chose to bring our two Greater Manchester offices to 100 Embankment because of its high quality and specification, prominent position and access for our staff to great amenities. As our business continues to develop, we feel this move provides a new, modern and exciting workspace for our colleagues to thrive. We can’t wait to enter the 100 Embankment community when we complete our move in September.”
Jamie Hills, Development Director, Ask Real Estate added: “This latest letting confirms the established appeal of 100 Embankment to major employees, and XPS will further enhance the thriving business community being created here.”
