SL Investment Management, which was established in 1990, is recognised as a market leading Alternative Investment Fund Manager, specialising in US life settlements and Traded Endowment Policies. The company will occupy part of the 3rd floor of the state-of-the-art office scheme on a 10-year lease, when it relocates from its current Grosvenor Court headquarters.
This latest deal follows a flurry of activity at One City Place, the first office building in Chester’s £100 million Central Business Quarter (CBQ), which has seen over 27,000 sq ft of Grade A office space let in the last seven months. Tenants that have signed to date include RSM UK, Power Solutions UK, Excello Law and Black and Veatch.
Muse has also received strong interest in the remaining floors at One City Place, with the ground floor suite B, and the first and second floors currently under offer.
SL Investment Management is expected to relocate its 30 strong team to the development in early June 2017, with fit out due to commence in the coming weeks.
Robert Ireland, Managing Director at SL Investment Management, said: “We are delighted to have exchanged contracts with Muse Developments to relocate our headquarters to One City Place. When we made the decision to move offices, we took a thorough look at all of the options available to us in the city. However, to continue to attract and retain the right employees and clients for our business, we found that One City Place was the only location for us. The quality of the development is also reflected in the high calibre of companies choosing to base themselves at One City Place and we are very pleased to be a part of it.”
Phil Mayall, development director at Muse, said: “The last few months have been extremely positive for One City Place and it’s great to see SL Investment Management sign up on a long-term lease.
“With our fifth tenant now confirmed and a number of deals still in the pipeline, our aim for City Place and the wider Central Business Quarter, to become the city’s number one destination for business, is really coming to life. The success that we are experiencing at One City Place is also helping to pave the way for the next stages of development of the Central Business Quarter which, will continue to offer the business community of Chester options that they have not had previously.”
CBRE and GVA are joint agents at One City Place, CBRE acted for Muse on the deal.
City Place is part funded by a £4.8m development loan from the North West Evergreen Fund and a further £1.4m grant from the European Regional Development Fund.