SMALL IS BEAUTIFUL AS DEMAND FOR START UP SPACE BOOMS
Updated: Jul 24
Demand from start-ups for small quality space in Chester is at an all-time high according to property consultancy, Legat Owen. The Chester-headquartered agency has completed 13 lettings within a two-week period within a 5-mile radius of Chester.
69 Hoole Road, a 1,443 sq ft office building comprising nine self-contained offices was 90% let before refurbishment had completed and now has only one 172 sq ft suite remaining. New occupiers include Uprint, Excent.Fr and Akzonobel Chemicals, with rents at £25 Per Square Foot.
Speaking about the market, Rupert Chadwick-Dunbar, surveyor at Legat Owen, commented: “Whilst much has been made of the larger office deals and lack of availability of large floorplates of Grade A office space, Chester and surrounding areas including Pulford, Ewloe and Capenhurst, have quietly become a real hot bed for start-ups, which are all demanding for niche, high quality space in a central location.
“The enquiries we’ve received have come from all sectors from technology and design to pharmaceutical and beauty. We’re also seeing a move away from the co-working space often regarded as the accommodation of choice for new businesses, with many looking for their own private office space. We believe there is definitely room in the market for additional space of this type.”