Audit, tax and consulting firm RSM has been announced as the anchor tenant at Chester’s multi-million pound City Place office development. The move will enhance the working environment for RSM’s people and clients, and further strengthens the firm’s presence in the region.
RSM will relocate around 85 people from existing space in the city and will take a 8,116 sq ft floorplate on the top floor of the state-of-the-art offices near Chester Railway Station. The firm has agreed to a 10-year lease to accommodate its rapidly growing team.
One City Place, a project led by national developer and urban regeneration specialist, Muse Developments, launched earlier this year and features 70,000 sq ft of office space set in Chester’s first £100m Central Business Quarter.
Phil Mayall, development director at Muse, said: “We are delighted to welcome the international accountancy and business advisory firm RSM as our anchor tenant at One City Place. The move was a natural step for this dynamic business looking for top class Grade A office accommodation with excellent transport connectivity at the hub of Chester’s vibrant new business community.
“There is so much development happening in Chester with complementary schemes like Northgate and the dining quarter all making the city a better place to work, live and enjoy. We knew Chester was the right place to invest and we look forward to welcoming new businesses to One City Place and progressing the 15-year vision for the Central Business Quarter.”
Jill Jones, RSM’s regional managing partner for the North West, said: ‘It’s an exciting time at RSM. We’ve grown through acquisition and strategic hires over the last 12 months - enhancing our key practice areas, sector specialisms and service to clients. The move to the city’s business quarter is a key part of this growth and reinforces our positioned as a mid-market leader in the region and across the UK.’
CBRE advised Muse Developments on the deal and JLL advised RSM.
Over the next 15 years, it is estimated that the Central Business Quarter will create 3,500 jobs, provide 200 new homes and retail opportunities, as well as a new hotel and leisure facilities.
Bilfinger GVA and CBRE are joint agents on the City Place scheme.
City Place is part funded by a £4.8m development loan from the North West Evergreen Fund and a further £1.4m grant funding from the European Regional Development Fund.