COMMERCIAL INVESTMENT IN LEICESTER SOLD TO LOCAL DEVELOPER
May 2009

Innes England announces the sale of a substantial and prominent property on the popular Braunstone Gate area of Leicester.

52 Braunstone Gate is a 14,300 sq ft four storey former shoe factory which, for a number of years, has been multi let to a number of industrial occupiers as a warehouse outlet. The property is well-placed in the centre of the fashionable bar/restaurant location under a mile from Leicester University, Leicester City Centre and the new Highcross shopping complex.


The property has been sold for a sum in the region of £500,000 to Cherriton Properties, a local developer based in Kibworth. The two brothers Sean and Chris Lander, who formed Cherriton Properties in 2006, have already undertaken a number of successful smaller projects in and around the city.

Sean Lander of Cherriton Properties said: “We are sympathetically renovating the old Victorian factory to give a trendy loft style appeal to a demanding student market in the centre of the fashionable Braunstone Gate area. This is the largest scheme we have undertaken so far, with all 35 student double sized rooms already reserved for 1st September 2009. We have also had some early interest in turning the front ground floor unit (approx. 2000 sq ft) into a commercial let for either offices, a restaurant or a retail unit.”

Steve Scott, Associate Director at Innes England said: “This flexible accommodation is in a popular city fringe location and offers the benefits of off street parking to the rear with provisions also being made for good secure cycle storage. Whilst the market has slowed considerably, good redevelopment opportunities are still drawing interest from a range of developers.”

For further information contact Steve Scott
Email: sscott@innes-england.com
Tel: 0116 255 5455