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Birmingham Post
Birmingham Post
Business
Tom Houghton

Former Lloyds office development in Chester up for sale after staff moved to city business park

Lloyds' former offices in Chester have been put up for sale after the banking giant moved over 1,000 staff to another city site.

CBRE has announced the four-acre development opportunity site in the centre of Chester is on the market, and it contains two vacant office buildings, Charterhall House and Tower House.

CBRE, which has been appointed by Lloyds, said the site offers potential buyers a "rare opportunity" to acquire a strategic site with "significant redevelopment opportunity".

It comes after Lloyds shut both buildings and relocated its city workforce to Chester Business Park in 2019.

Staff moved to Cawley House, which became part of Lloyds when the bank took over the MBNA credit card business in June 2017 in a £1.9bn deal with Bank of America.

Neil Kirkham, senior director at CBRE Liverpool, said: "We are delighted to be appointed on this prime development site in Chester. The site offers a fantastic opportunity to transform the existing offering into an attractive new development to serve the surrounding community of Chester.

"With recent statistics showing strong office take up in Chester over the past four years, high demand in the hospitality industry and a continued high demand for rental accommodation, we anticipate high interest in this plot for office refurbishment/redevelopment, hotel development and likewise Chester’s affluent residential market will appeal to parties interested in pursuing a residential conversion or redevelopment opportunity."

According to CBRE, the site comprises 105,517 sq ft of office accommodation set over two vacant freehold office buildings.

The seven-storey Charterhall House totals 60,273 sq ft with a ground floor reception area and upper floors offering a mixture of private offices, meeting rooms and a canteen.

Tower House is a four-storey building comprising 45,244 sq ft containing a mix of open plan and private offices and meeting rooms.

CBRE said the site is available to purchase as a whole or as three individual plots.

Mr Kirkham added: "Sitting in such close proximity to Chester’s mainline train station and just a stone’s throw from the bustling Leisure and retail circuit, this site really does have a multitude of highly desirable characteristics."

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