May 2018

Small Is Beautiful As Demand For Start-Up Space Booms

Demand from start-ups for small quality space in Chester is at an all-time high.

We have completed 13 lettings within a two-week period within a five-mile radius of Chester.

A property at 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, a surveyor at Legat Owen, said:

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.

Rupert Chadwick-Dunbar, Legat Owen

He added:

We believe there is definitely room in the market for additional space of this type.

Rupert Chadwick-Dunbar, Legat Owen