Cheshire-based developer Patrick Properties has completed a 50,000 sq ft pre-let at its speculative office scheme, Emerald in Crewe, to two Phones 4U subsidiaries on a 15-year lease at £15/sq ft.
Phones 4U subsidiaries Policy Administration Services and Lifestyle Services Group had been in talks for several months over the deal, which is believed to be the biggest in Cheshire this year. The phones group is already a large employer in Crewe.
PAS administers mobile phone insurance policies and LSG provides niche insurance products and services on behalf of business partners.
Emerald is located on Crewe Business Park; home to Barclays Bank, Focus Wickes, Fujitsu and Rolls-Royce.
Andrew Dickman, managing director of Patrick Properties, said: "This was an important and very significant letting for Crewe, where good quality office accommodation is scarce. As this was the last development opportunity on the business Ppark, we are delighted to have successfully let the scheme in its entirety and to have been able to attract such a high profile company into the area."
Richard Wharton of sole letting agents, King Sturge, added: "The letting of the Emerald scheme prior to practical completion, in its entirety and to a single blue chip tenant, shows that developers who commit to genuine speculative development will reap the rewards. Patrick Properties have shown confidence both in Crewe as a business location and in the office market in general and King Sturge are delighted to have shared in this success. We are actively seeking further development opportunities throughout the North West to add to the Patrick Properties ever growing portfolio."
The building will be ready for occupation by the end of April.