Chester’s "Brexit-proof” residential market, its tourist appeal, and the opportunities of the next tech revolution were the topics discussed at Chester Growth Partnership’s event for Manchester young property professionals.
Guy Butler, director of developer Glenbrook and chairman of Chester Growth Partnership, opened the drinks reception aimed at under-30s, held at Grant Thornton’s Manchester office: "You may wonder why we’ve come to Manchester to talk Chester, but it’s to tell you that we’re open for business. When you do business, think of Chester.”
Butler enthused about Chester’s varied opportunities for the North West’s property community: its large zoo, cathedral, rich business history as the headquarters of MoneySuperMarket, BNY Mellon, and Virgin Money, and the expansion of its culture and retail offer being brought forward at Storyhouse and the £300m Northgate development.
The appeal of Chester was reflected in its "Brexit-proof” residential market, according to Charlie Kannreuther, director in Savills’ Chester office. Demand from downsizers for the limited stock within the city walls resulted in house prices reaching 15% more than the 2007 peak, he said. The market is dominated by premium properties, such as Georgian terraces, Edwardian villas, with limited new-build homes. This has led to office-to-residential schemes getting sales of up to £400/sq ft, and Dee Hills Park, a new development on the waterfront, getting off-plan sales of up to £600/sq ft.
Read more at placenorthwest.co.uk