Sale of office building to create new homes in Chester city centre

Concorde House

A deal has completed which will bring much-needed new apartments to Chester city centre.

Chester-based Blueoak Estates has completed the acquisition of Concorde House on Canal Street in the city which will be converted from office space to residential apartments.

It was sold for more than the guide price, which was set at around £2.2m

The building, which was sold by Savills Manchester on behalf of a private investor, extends to more than 22,000 sq ft across four floors.

The proposed scheme will feature 32 high-specification one-, two- and three-bedroom apartments, benefiting from secure off-road parking and views of the historic city walls and Welsh mountains beyond.

The site is also conveniently located within a stone’s throw of the popular Storyhouse and emerging Northgate Quarter.

Ned Brooks, associate in the Manchester-based development team at Savills, said: “Due to the central location of the site and the limited number of opportunities on buildings with permitted development rights in the city, strong interest was generated by a number of parties.

“We achieved a figure in excess of the guide price which reflects the increasing demand for well-located buildings for office to residential conversion.

“Apartments are in high demand in Chester city centre, appealing to those looking to downsize as well as professionals who work in the city and want a convenient, central base.

“This conversion will, no doubt, give the building a new lease of life.”

The office building is currently wholly occupied by Superlarge Ltd, trading as Inspiring Travel Company.

The lease is due to expire in August 2019 when building work will begin.

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