Manchester’s Royal Mail sorting office on Oldham Road sold for £45m
It is currently unknown what will become of the sorting office, which is just one of a large portfolio of sorting offices the nation's postal service operates across the UK.
The well known Royal Mail distribution centre on Oldham Road in Manchester city centre has been sold to a private investor.
Aviva Investors, which is connected to a Salford-based millionaire, has sold the popular sorting office for £45 million with an initial net yield of 2.75% – a record low yield for the North West.
According to Place North West, it is understood that the buyer is loosely connected to Aubrey Weis, who is behind a proposed £350m skyscraper scheme at Manchester’s Great Jackson Street, which if materialised, will comprise of two 56-storey towers and more than 1,000 apartments.
Royal Mail
Acting for the buyer in the Royal Mail acquisition is Cooper Rose Real Estate, while Savills’ Manchester investment agency team acted for the seller, Aviva.
The popular fulfilment centre is the largest warehouse of its type in Manchester city centre and was acquired by Aviva for £14.4m in 2010. Royal Mail also operates a 340,000 sq ft distribution centre in Warrington.
It is currently unknown what will become of the sorting office, which is just one of a large portfolio of sorting offices the nation’s postal service operates across the UK.
Business
MediaCityUK makes huge pledge to Salford Youth Zone
Danny Jones
MediaCityUK has committed a sizeable new pledge to nearby Salford Youth Zone, becoming a key patron for the increasingly important community cornerstone.
Initial work on Salford Youth Zone (SYZ) only began back in 2023 but is already promising to become an important outlet for so many through the borough.
Set to open later this summer and now with backing from none other than the hugely influential entity that is MediaCityUK, SYZ’s inaugural year will hopefully get off to a wonderful start.
As its own city with the national media hub boasting a huge reputation of its own, its great to get more eyes on and profile behind the project.
Teaming up with Salford Council and Empower Youth Zone (EMPOWER) – the youth work charity behind the already established HideOut Youth Zone in Gorton and the soon-to-open SYZ – MediaCity has become the latest and one of their most generous patrons yet.
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Pledging a huge donation of £100,000, MediaCity will be supporting the charity at large with an extensive volunteering and business support programme over the next four years at the very least.
As a Landsec Futures employability partner and influential hub for the creative industries in the UK, MediaCity are looking to work closely with SYZ and its partners to provide greater access in creative spaces and with local businesses.
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Landsec (who have recently acquired full ownership of the MediaCity brand) are equally committed to creating places that deliver lasting positive impact for both communities and the environment.
As per an official announcement of the partnership, “It joins the growing EMPOWER patron community, funding vital services that enable young people to break down barriers, unlock potential, and build brighter futures.”
Salford Youth Zone – situated adjacent to Belvedere Road and Broadwalk in Pendleton – is set to open seven days a week, deliver more than 200 volunteering days each year, as well as offer completely free membership to support thousands of young people in the city and across Greater Manchester.
For those who have come across the exciting new ‘FRAMELESS’ exhibition over in Salford Quays, this comes not only in collaboration with the National Portrait Gallery but SYZ itself in one of its first big activitations for 2025.
Here’s a whistle-stop tour of the £6.2 million youth centre and activities space.
Speaking in an official statement, MediaCity Managing Director Martin Chown said of the welcome new partnership: “Salford is an important part of our journey, and deepening our roots here reflects our commitment to enriching the communities we’re part of.
“Partnering with EMPOWER will help us continue to drive forward a thriving creative community while s upporting talented young people. MediaCity has become a cornerstone of Salford’s identity, helping the city attract leading businesses and driving investment into the city.
“It’s a bridge between Salford and the creative industries, and we want to ensure local people feel like a career in the creative industries is within their reach. EMPOWER’s arrival in Salford will make a material difference to young people and the wider community, so we’re proud to be supporting the team.”
Adam Farricker, CEO of Empower, went on to add: “Our partnership with Landsec is another powerful step towards our mission to support young people across Greater Manchester. MediaCity sits at the heart of the city, and we want our young people to feel connected to its energy and community spirit.
“Young people are full of potential but often need the right support to overcome the barriers they face and truly believe in themself. Together, with the MediaCity team and Landsec, we’re working to ensure every young person, regardless of their background, has the opportunity to grow, succeed, and move towards a better future.”
With the recently unveiled ‘Content Studio’ to boot, it’s happening in Salford and another exciting event is also heading back to MediaCity this season.
Ex-Salford Red Devils CEO steps back in to try and save the club from collapse
Danny Jones
Former Salford Red Devils CEO, Paul King, has flown in to help his former employers as the rugby league side hopes to rescue itself from the brink of complete collapse.
Paul King only left Salford Community Stadium and the Red Devils in February, being replaced by Chris Irwin, but since the latter resigned this month and promises of financial security still look far from coming good, the 54-year-old is back in the fold and trying his best to save the 152-year-old club.
Salford were the subject of a Swiss takeover earlier this year, which looked like it might beckon a whole new era for the long-established local team, but despite claims of clearing debts and righting the ship by businessman Dario Berta, it turns out that little has been done to fix the books since then.
In fact, as it turns out, Salford’s line of credit only appears to have been extended as the Devils are thought to be rather deep in the red (a rather cruel irony) with payday loans taken out to pay player wages and keep them afloat. With that in mind, King has come back to do what he can.
While the new consortium is yet to deliver key funds, King is taking the fall. (Credit: Salford Red Devils via Facebook screenshot)
As per multiple outlets, King has now returned to Salford in an ‘advisory role’, consulting on how best to navigate the persisting choppy water surrounding the club.
Although the club has so far refrained from making any kind of announcement of their own – the last being the confirmation of chief exec Irwin’s departure on 6 May – it’s understood that King has actually been continuing to help cover costs ever since he left.
The man himself has downplayed his impact thus far, stating that he’s simply “been pulled in from gardening leave to advise, that’s all”, insisting that “it’s all very short-term.”
However, despite no longer being actually a full-time member of staff at Salford Red Devils, he is said to have been paying player wages for the last three months and
Even more concerningly, though it will no doubt touch fans to hear, he is also believed to have put his own home up as collateral against what the club owes to lenders; it’s not even the first time he’s done this, either.
Former CEO Paul King is back at Salford Red Devils in an advisory role.
It's understood King paid the player wages for the past three months.
👹 The Devils are still waiting on significant funds from their new owners.
In a modern sporting era where owners, consortiums, nation states and so on are often criticised over their stewardship of clubs, this kind of generosity and hustle from a man who isn’t even technically employed by the business has to be applauded.
That being said, it’s no surprise that their struggles off the pitch have translated to performances as well, with Salford sitting at the bottom of the Betfred Super League table, having notched just one win this season. Some stability is needed, and soon.
Here’s hoping it all pays off – a community club that’s been around so long and means so much to the local area cannot be allowed to disintegrate.
Meanwhile, over in the EFL, neighbours Salford City FC have also seen their ownership change hands as they hope to avoid similar uncertainty in this next chapter. The sporting-obsessed city and its countless supporters have no intention of giving up on their teams.
The Manc -
24th June 2021 
