Muse has acquired the 3.5-acre former Lloyds Banking Group site, close to Chester Central station, which has been identified by Cheshire West & Chester Council as the location for the city's proposed new central business district (CBD).
The scheme encompasses the first two phases of the new CBD, comprising two six-storey office buildings totalling 150,000 square feet. There will also be a new public precinct, linking the scheme with the station and the Shropshire Union Canal.
Muse is the urban regeneration division of Morgan Sindall Group
A planning application is expected to be submitted in early 2012 for a start on construction in 2013. It is expected to take approximately 10 years to complete. When complete, the CBD will comprise more than 500,000 square feet of Grade 'A' office space.
Morgan Sindall Group chief executive Paul Smith: "We are delighted to have secured this regeneration scheme for what is set to be an exciting development for Chester. Regeneration schemes of this sort offer great potential for the group in the medium-term and represent exciting opportunities to further expand our regeneration activities."