New hope for Chester's Business Quarter dream
One of the major UK companies Business Development acquired the former site of the city of Lloyds Banking Group.Manchester-based Muse Developments bought the site of 3.5 acres, designated as the heart of a business district with 500,000 square feet of office space and the potential to create over 1,000 jobs.
The building of the existing Prime Minister House was demolished to make way for the first two phases of development, which will consist of two six-storey Grade "A" office buildings totaling 150,000 square feet.
Development will be complemented by the provision of new public works, linking it with Chester Station and Shropshire Union Canal.
Muse Developments expected to submit a planning application to Cheshire West and Chester Council in early 2012, with construction expected to begin in 2013.
Phil Mayall, surveyor of the business development senior, said: "We are delighted to announce the agreement of the acquisition from Lloyds Banking Group, we worked closely with Lloyds to ensure that development complete its new campus, while creating an exciting new business destination. Chester.
"We feel the location of its strong transport links, amenities and close to the historic center of Chester City will prove attractive to companies looking for modern, sustainable local."
Council leader Mike Jones said: "This is great news and shows a substantial vote of confidence from the private sector in the Council's vision for the future of Chester.
"Following closely the recent announcement regarding the proposed development site on the side of the channel Shot Tower, it represents a major boost for our business concept exciting quarter."
Councillor Herbert Manley, Executive Member, prosperity, said: "Muse Developments has demonstrated that the emergence of Chester is regarded as a future city by developers - despite the current financial climate strict.
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And the timing couldn't be better, arriving as it does on the heels of: » a new analysis from the Council of State Taxation (www.cost.org) showing New York with the worst property tax system in America. So when New York's 10 regional economic
Development will be complemented by the provision of new public realm works, linking it with Chester Station and Shropshire Union canal. Muse Developments expect to submit a planning application to Cheshire West and Chester Council in early 2012,
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