Yorkshire-based property developer, Opus Land has bought a former BT building in Chester for an undisclosed sum.
Opus plans to refurbish the vacant Exchange building, on St Johns Street, to provide a mixture of offices, leisure and retail units covering 72,750 sq ft.
Details of the scheme include 27,000 sq ft of grade A offices, a 60-bed hotel, a restaurant and two retail units.
Work on the scheme, which has an end value of £16m, is expected to begin in November with completion due in late 2007.
Neil Creeney, Development Surveyor, commented on the scheme: “We are excited about our Chester acquisition.
“Chester is already a vibrant city and our new development will enhance the surroundings and provide a sympathetic and exciting mixed-use scheme of high specification offering commercial, retail and leisure facilities.”
GVA Grimley, Matthews & Goodman and Christie + Co are joint agents on the scheme.
References: EGi News 25/07/06
