Patricroft Bridge Baseline Report.pdf - Urbed

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Report by URBED with AGDDependant on the outcome of the regeneration processthe area may be transformed into a new residential ledmixed use neighbourhood or remain a largely industriallocation.CommercialThe area is not a recognised office location with little orno purpose built office space and very little convertedoffice space other than Pearce House and NassauHouse located on Cawdor Street and a small numberof units located above shops. Typical occupiers includefinancial and professional services and computertraining business.In terms of rental values and yields Nassau Houselocated on Cawdor Street is currently available to let atan annual rent of £26.000 per annum based on 2,900sq.ft of accommodation which equates to approx £8per sq.ft. The majority of the remaining office space inthe area is in freehold ownership.The main office market locally is located within EcclesTown Centre which provides approx 345,151 sq.ft ofoffice space much of which is located in four large officedevelopments: Sentinel House, Emerson House, OrbitHouse and Charles House which combined provideapprox 230,000 sq.ft.The largest office block Sentinel House with 115,000sq.ft of accommodation has struggled to attract tenantsand is currently 70% vacant. Average rents withinEccles Town Centre are around £6.50 per sq.ft. which isbetter than some of the comparable locations elsewherewithin Greater Manchester but lower than others suchas Altrincham at £12.00 per sq.ft. and Stockport at£7.70 per sq.ft.Demand for new office space within the Paticroft area islimited due to the lack of an established office market,availability of quality office space and the competitionfrom the established office locations within Eccles TownCentre and Salford Quays with an abundance of qualityoffice space at competitive rents.In terms of potential for new office space despite thelack of an established office market there may be somepotential to upgrade some of existing office/workshopspace within existing buildings including the BridgewaterMill and possibly the underused building on the SinghBrothers site for flexible managed office space atcompetitive rents. However the cost of conversion/upgrade may make such a proposition unviable.RetailThe Liverpool Road is the main focus of retail activitywithin the area and includes a mix of largely smallindependent retailers supplemented by key nationalretailers including Tesco Express, Sub Way and Kwik-Fit.The quality and mix of the retail offer has been in declinefor some time as a result of competition from elsewhereand a changing shift in shopping patterns with a shifttowards supermarket shopping as evidenced by thenumber of vacant retail units and large number of fastfood takeaways. The arrival of the Tesco Express hasexacerbated the trend with the further decline of smallretailers.In terms of rental values 291 Liverpool Road is currentlyavailable at an annual rent of £8,000 based on 600 sq.ft.of ground floor retail floorspace which equates to arental of approx £12 per sq.ft.The lack of on street parking is a major problemparticularly for the small independent retailers who replyon passing trade to survive.Demand for retail space is limited by the form andquality of the existing retail floorspace that without majorimprovement or redevelopment is likely only to appealto small independent retailers. It is anticipated that dueto the ongoing trend towards supermarket shoppingand the limited investment potential of the existing retailunits that the existing retail offer will decline further.The potential for new retail floorspace within the area islimited due to the lack of sites for new retail developmentwithout the redevelopment of some of the existing retailunits and the emphasis of the policy framework thatrequires new retail activity to concentrate within EcclesTown Centre and adjacent retailers at Peel Green andPatricroft.52
Patricroft Bridge Baseline Report7. ConsultationAs part of the baseline work the consultancy team hascarried out a range of consultation comprising:■■■■One to one meetings with Salford City Councilofficers and the deputy leader. This has been toinform our understanding of baseline issues andlocal regeneration activity, issues and prioritiesOne to one meetings with the main businessesand owners within the study area to understandinvestment plans and redevelopment/relocationpossibilities.A business survey hand delivered to allbusinesses within the study areaA Walkabout with local members to understandlocal issues and views.A confidential report has been produced outlining thefeedback from individual meetings with key businessesand ownerships. (Appendix A)A report summarising feedback from the businesssurvey is attached at Appendix B.From top left clockwise, Sunny side up sandwich shop,walkabout images, Jack Lemmon Sheds at work and theDrum Centre in the Bridgewater Mill.A separate report has been produced outlining thefeedback from the site walkabout and this forms anappendix to this report (Appendix C).53
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