Chester Race Company is to move into Cheshire West and Chester Council’s HQ building next month, taking over 700 square metres of space on the fourth floor overlooking the racecourse.
As part of its strategy to maximise income from its corporate buildings, the council is leasing available space to various organisations to make financial savings as part of a wider accommodation strategy.
Cllr David Armstrong, Cabinet member for legal and finance, said: “Our accommodation portfolio must deliver value for money for the taxpayer. To make sure we can protect frontline services we will not overspend on our buildings, some of which have unoccupied space.
“It is important to make cost savings across corporate buildings if the council is to achieve its aim of bridging the £57 million financial shortfall in our funding by 2020.
“The Race Company plays an important role towards us achieving our goal of a thriving local economy. It is good news that they will be moving into HQ bringing, as they do, much needed private sector money into the public sector.
“This new announcement is in addition to Marketing Cheshire who have already taken space on the fifth floor.”
Richard Thomas, CEO of Chester Race Company Limited, said: “This is an exciting step forward for our company. Our continued expansion and diversification has meant that we have outgrown our current offices. The HQ building is a perfect site for us to relocate to – overlooking the racecourse and in very close proximity.
“We believe this move will generate significant efficiencies in how we operate as a company and, importantly, it unlocks further potential growth in how we use the office buildings at the racecourse to drive future revenue and profits for the business.”
Cheshire West and Chester Council’s accommodation strategy aims to save £2.4 million over the next four years.
Chester Race Company is paying market rate for the space.