Morgan Sindall Group plc, the construction and regeneration group, today announces that its Urban Regeneration division, Muse Developments, has secured a major regeneration scheme in Chester city centre, with a total development value of approximately £115 million. The site has been identified by Cheshire West and Chester Council as the location for the city’s proposed new Central Business District (CBD), due to its central location and close proximity to Chester Central station.
The scheme encompasses the first two phases of the new CBD, which will comprise of two BREEAM ‘Excellent’, six-storey Grade ‘A’ office buildings totalling 150,000 square feet. It will be complemented by the provision of new public realm, linking the scheme with the station and Shropshire Union Canal.
A planning application is expected to be submitted in early 2012. The scheme, which is expected to take approximately 10 years in total, is expected to commence construction in 2013. When complete, the CBD will comprise over 500,000 square feet of Grade ‘A’ office space.
“We are delighted to have secured this regeneration scheme for what is set to be an exciting development for Chester,” says Paul Smith, chief executive of Morgan Sindall Group plc. “Schemes of this sort offer great potential for the Group in the medium term and represent exciting opportunities to further expand our regeneration activities.”