Property Alliance Group has acquired Richard House from CLM Chester for £1.7m, and has agreed a letting to luxury tour operator Inspiring Travel Company.
The property is a grade two-listed office which has recently undergone a refurbishment, to provide Grade A specification offices across the 10,000 sq ft building.
Richard House is situated in Chester’s city centre on Lower Bridge Street – near the heart of the city’s retail area – and will be Inspiring Travel Company’s new headquarters, after 40 years based on Canal Street.
Inspiring Travel Company has taken Richard House on a 10-year lease, and is due to relocate in August. Chairman Jennifer Atkinson said; “As this exciting move shows, we’re committed to keeping Chester’s historic centre our home and we’re thrilled to be able to pledge our future to the city.”
Richard House is Alliance’s first commercial property in Chester, having been acquired as part of its strategy to expand the North West portfolio. Managing director of Alliance, Alex Russell said: “We knew the Inspiring Travel Company wanted to move premises but stay in Chester, so we worked with them to find a property that would best suit their needs.”
Property Alliance Group is a development and investment company based in Manchester.
The Inspiring Travel Company is the flagship brand of the ITC Travel Group.