Car finance company doubles space on business park
STOCK funding provider for independent and franchise car dealers NextGear Capital has signed up to double its take up of space at Chester Business Park.
Acting on behalf of Prospect (GB), commercial property agent Legat Owen signed the company relocating its UK headquarters from 5,000sq ft at International House to an 11,500sq ft self-contained building on a 10-year lease.
Located within the Kingsfield Court quarter, in the heart of Chester Business Park, the developer undertook a full refurbishment of the property last year to create modern Grade A office accommodation over two floors.
Michael Kelleher, finance director at NextGear Capital, said: “Chester Business Park has been an optimum environment for our business’ growth and we were keen to remain here. Edward House is an impressive building and gives us the platform on which we can further expand our company.
“We are confident we will be able to expand our portfolio of contracted dealers to be in excess of 2,000 by 2018.”
Will Sadler, director at Legat Owen, sole agent for the scheme, said: “Prospect GB’s decision to invest in Edward House has been handsomely rewarded in securing a single high profile occupier for the whole building.
“This deal once again reinforces Chester Business Park’s standing as one of the region’s prime business destinations in the North West and a hub for financial services with organisations such as Royal Bank of Scotland, Mark & Spencer Money and Bank of America already here.”
Neil Waddington, managing director at Prospect (GB), concluded: “As the landlord for both International House and Edward House, we are pleased to have retained NextGear, who are an excellent and long term tenant of ours. We are now embarking on a programme of refurbishment at International House to bring this building up to a similar standard.”
Chester Business Park is a 175-acre business development in the Cheshire Green Belt offering 1.25msq ft of prime office accommodation.
Quoting rental is £17.50 per sq ft.
NexGear Capital UK was unrepresented.
