Healthcare tenant agrees 10-year deal on its office base

Chris Bullough

Ashfield Healthcare has extended its commitment to Macclesfield with the signing of a new 10-year lease at its Victoria Mill offices.

Victoria Mill was acquired in 2019 by Seneca Property.

The Grade II-listed converted mill building comprises more than 28,000 sq ft of accommodation over five storeys and is prominently located on the Silk Road, the town’s main arterial route.

Ashfield Healthcare is part of the listed UDG Healthcare group, with a market capitalisation of £1.8bn and the deal represents a major commitment to its Cheshire base.

Seneca Property director, Chris Bullough, said: “We are delighted to have been able to negotiate a good outcome with Ashfield which very much considers this a long term home, having invested significant sums in recent years in enhanced facilities for its employees.

“Concluding this 10-year deal is excellent news for our investors, especially when the economic backdrop is fairly challenging.

“Whilst the headlines have been generally around the demise of city centre office space, particularly in London and the larger cities where there is far greater reliance on public transport, this deal is evidence that traditional office accommodation in well-located areas can continue to see good demand.

“In planning for, and securing, its future in Macclesfield, Ashfield Healthcare supports this view.

“Ease of accessibility for employees has become a key requirement in the current market and we have also seen a spike in demand for ‘out of city’ office space throughout our Biz Hub serviced office brand throughout the North of England.”