County Hall will now belong to the University of Chester in a £28.75m deal that was approved today allowing the university to accommodate more staff along the river side as the university continues to grow in size.
The previous residents of the Hall, the Cheshire West and Chester Council will now reside in the HQ building that is located on Nicholas Street.
Outside of the immediate sale value, the council estimates that moving to the HQ building could help reduce the amount taxpayers will have to contribute in running costs and business rates with a reduction in total costs over the next five years of about £4 million.
The deal was approved under the terms that the castle square park is sold separately as its own transaction with its own value attached to it. The agreement of the deal by Cheshire East Council also stipulates that the car park must receive an independent valuation.
Mike Jones, the Council Leader, stated that the office relocation and final decision was made correctly because both the University and the city will benefit from the transaction and sale of the property. He continued to state that since both benefit from the other’s presence; the move will have positive ramifications all around.
Jones added that Council Hall was a great building with an excellent location, but did not have the efficiency of well planned office interiors that other office space areas such as HQ could offer to help bring the council forward in the coming years.