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Sykes Cottages signs up to One City Place
Private equity-backed holiday company Sykes Cottages has signed up to relocate to Chester’s landmark office scheme One City Place.
The business, which has been based in Chester for more than 25 years, said that the switch was a key part of its ongoing strategy to support expansion. It has signed a ten-year lease for 24,000 sq ft over two floors at the flagship office scheme by Muse Developments in partnership with Cheshire West & Chester Council, more than double its current space.
One City Place forms part of the wider £120m, 3.5-acre City Place development, the focal point of the city’s new Central Business Quarter. It is envisaged that City Place will ultimately provide more than 500,000 sq ft of grade A office accommodation, including retail and leisure facilities, as well as 200 residential units and new public realm when it completes in 2028.
Sykes Cottages is now working with interior design and space planning consultancy Overbury, with a view to starting to move its 300 employees from September 2017.
Graham Donoghue, chief executive of Sykes Cottages, said: “Chester has been the heart and home of the business for almost three decades, so continuing our commitment to the region was important to us and our people. One City Place ticked all the boxes for a high-growth, technology led business like ours, giving us access to talent from across the region thanks to its excellent transport connectivity and a location that’s both tech-enabled and sustainable.”
Sykes is backed by mid-market private equity firm Livingbridge.
Phil Mayall, development director at Muse, said: “Sykes Cottages’ relocation to One City Place highlights the diversity of the scheme, which can accommodate a wide range of business sizes and types. It’s always great to see a local company like Sykes succeed, and we look forward to watching the business continue to grow at its new address.
“Sykes’ relocation also means that One City Place is now more than 70 per cent let and we still have strong interest in the remaining floor space, which is a real testament to the scheme as a new city centre destination for business.”
GVA and CBRE acted for Muse Developments and Bolton Birch represented Sykes Cottages on the deal. Read more
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