THE FORMER Jessops head office building in Leicester is set for a new era – following its purchase by Central England Co-operative in a deal brokered by Innes England and JLL.
Following the departure of Jessops, the 1.9 acre site, in Scudamore Road, was marketed by JLL, acting for the administrator PWC. Innes England acted on behalf of Central England Co-operative to purchase the site.
Peter Doleman, director at Innes England, said the deal would mean a new lease of life for the site which closed in January 2013 following the demise of Jessops due to competition from online retailers.
“This site is a great match for the needs of the buyer, enabling an established company to remain at the heart of the city’s economy,” Peter said.
“We worked closely with Central England Co-operative’s property team and all the other parties involved in order to secure the Scudamore Road site and to conclude the deal swiftly.”
James Keeton, of vendor’s agent JLL, said: “There had been competitive interest in the premises but Central England Co-operative was identified as the preferred purchaser due to its ability to perform. We were able to conclude a quick and successful sale very much to the satisfaction of our clients.”
Eddie Williams, of administrator PWC, said: “I am delighted that we have been able to achieve a sale of the former Jessops head office in Leicester to Central England Co-operative, which is an iconic local business.
“I’m pleased the Jessops name continues on the high street and that the sale of the head office will support on-going employment in the area.”
Jessops was founded by Frank Jessop in 1935 in Leicester. Dragons’ Den star Peter Jones and turnaround specialist Hilco bought the Jessops name this year and revealed plans to open 30 stores under a re-launched brand.