Holiday rental firm Sykes Cottages will relocate to Chester’s One City Place as part of its ongoing investment strategy.
The expanding independent company has been based in the city for more than 25 years and is now preparing to move its 300 employees to the Central Business Quarter development.
Sykes has signed a 10-year lease for 24,000 sq ft of space over two floors – more than double its current space at Richard House – and is currently working with interior design and space planning consultancy Overbury on the new site.
Employees are expected to start moving to the building, which has been built by Muse Developments in partnership with Cheshire West & Cheshire Council, from September.
Once City Place forms part of a wider £120 million, 3.5-acre City Place scheme for the area, which will eventually provide more than 500,000 sq ft of Grade A office space with retail and leisure facilities, as well as 200 residential units and new public realm. The whole project is due for completion in 2028.
Graham Donoghue, CEO of Sykes Cottages which recently reported annual sales of £27.3 million for the year ending September 2016 – an increase of 24% – says: “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.”
Phil Mayall, development director at Muse Developments, adds: “Sykes’ relocation means that One City Place is now more than 70% let and we still have strong interest in the remaining floorspace, 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.