Property Alliance Group has acquired a Chester office building for £1.7m and agreed a pre-let with a luxury tour operator.
Spanning 10,000 sq ft, Richard House is located in the heart of the city centre in Lower Bridge Street. The Inspiring Travel Company has agreed a 10-year lease for the whole building, which will be its new headquarters.
The tour operator has been based in Chester since its inception more than 40 years ago and headquartered at Concorde House in Canal Street for 21 years. It will relocate in August 2019.
Chairman Jennifer Atkinson said: “As this exciting move shows, we’re committed to keeping Chester’s historic centre our home and we’re thrilled to be able to pledge our future to the city.
“Relocating is part of our ongoing commitment to investing in new technology and facilities, and will provide a more modern and engaging environment for our team.”
Richard House is Alliance’s first commercial property in Chester and was acquired as part of its strategy to expand its portfolio across the North West.
Alex Russell, managing director of Alliance added: “We knew the Inspiring Travel Company wanted to move premises but stay in Chester, so we worked with them to help find a property that would best meet their needs.
“Richard House presented an ideal base offering high-quality office space in a prime city centre location.”
Bolton Birch acted for the vendor.