The Foundation Chester

Double letting on Chester Business Park

The Foundation office building in Chester Business Park is now fully let, with Swedish food packaging giant Tetra Pak taking 11,000 sq ft and identity intelligence specialist GB Group 19,600 sq ft.

Tetra Pak agreed a 10-year lease on the first floor of the 32,232 sq ft building at a rent of £17/sq ft, while GB Group agreed a 10-year lease on the entire ground floor and remainder of the first floor.

Tetra Pak is relocating from Wrexham in North Wales and GB Group is moving from GB House on Chester Business Park.

Colliers International in Manchester acted jointly for private landlord UK Property Holdings with chartered surveyors Legat Owen.

Cordatus Real Estate manages the Foundation on behalf of the landlord. Tetra Pak was advised by Race Hopkins and GB Group was advised by JLL.

Rupert Barron, director of Colliers International in Manchester, secured both lettings and said there had been "strong interest" in the Foundation.

Barron said: "The lettings to Tetra Pak and GB Group are evidence of confidence returning to the occupational market and highlights the shortage of new build, speculative schemes in the region which restricts occupiers to considering recycled buildings."

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