A landmark grade A office scheme in central Chester that is home to companies such as RSM, Excello Law and Sykes Cottages has been snapped up.
Hermes Investment Management, the £30.8bn manager, on behalf of Hermes Property Unit Trust has exchanged contracts with Muse Developments for the purchase of One City Place. The purchase price has not been disclosed.
The six-storey, 70,000 sq ft building is the first in the wider £120m City Place development, forming part of Chester’s new Central Business Quarter, which is being brought forward by Muse in partnership with Cheshire West & Chester Council. Muse launched One City Place in January 2016.
The prominent building next to Chester railway station is home to a range of companies including RSM, Excello Law, Power Solutions (UK), Black and Veatch and SL Investment Management. They were recently joined by Livingbridge-backed holiday company Sykes Cottages.