NextGear expands within Chester Business Park

Acting on behalf of Prospect GB, commercial agent Legat Owen has signed up NextGear Capital UK to Edward House on Chester Business Park.

NextGear Capital, a leading provider of stock funding for independent and franchise car dealers in the UK and Ireland, has relocated its UK headquarters from approximately 5,000 sq ft at International House, to take Edward House, an 11,500 sq ft self-contained building on a 10-year lease.

Located within the Kingsfield Court quarter, in the heart of Chester Business Park, Prospect GB undertook a full refurbishment of the property last year to create modern accommodation over two floors.

Michael Kelleher, finance director of 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 of 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 of Prospect GB, added: “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 1.25m sq ft of office accommodation. The quoting rent is £17.50/sq ft. NexGear Capital UK was unrepresented.

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