Construction Investment

£50M MAJOR MIXED-USE SCHEME PROPOSED FOR LEICESTER CITY CENTRE

£50M MAJOR MIXED-USE SCHEME PROPOSED FOR LEICESTER CITY CENTRE

A significant, mixed-use development has been proposed to transform and regenerate the St George’s North area of Leicester city centre in an investment representing circa £50m.

Developers, LCL commissioned multi-disciplinary design practice, rg+p to design a high quality apartment scheme, known as Fleet Village, to revitalise derelict and disused former office buildings on Lee Circle and Old Milton Street in the city. The proposed development includes new apartments and associated amenities for residents such as concierge service, gym, café/bar/lounge and cycle storage alongside 3,000 sq ft retail units. Planning permission was sought in January 2018.

Impression of the landscaped courtyard at Fleet Village, Leicester

Apartments are arranged in a series of buildings, one of which includes a “green window” through its façade to create an upper garden for residents and allow sunlight into the communal garden space.

Chris May, partner at Howes Percival, commented on behalf of LCL: “This area of Leicester has seen little or no growth for the past 15 years and is desperately in need of regeneration; these buildings are victims of vandalism and trespassing. We believe the proposed development, which is expected to create up to 100 new jobs during construction and between 12-17 once completed, is the right catalyst for this much needed regeneration.

“The scheme seeks to provide a range of new homes to suit the local housing market as well as retail and leisure facilities we feel will benefit the community. Fleet Village represents a major investment for our home city and we’re really excited about what it could mean for those wanting to live, work and play in Leicester. We’re hopeful for a positive outcome from our planning applications very soon,” Mr May concluded.

LCL has a strong track record delivering similar schemes in Leicester, having successfully completed 250 apartments at Clyde Court on Erskine Street and Markfield Court off Abbey Park Street collectively. In addition to the £50m investment for Fleet Village, LCL has offered to make a further contribution, expected to be in the region of a six figure sum, to Leicester City Council via a Unilateral Undertaking to enable development of the site.

James Badley, architectural director at rg+p added: “Fleet Village has the potential to become a statement development for Leicester and is certainly one of the largest investments the city’s housing market has seen in recent years. LCL has engaged extensively with the local authorities so we remain optimistic for the development’s future.”

If permission is granted before the year end, LCL has indicated that work will commence on site in Spring 2019.

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