Leicester-based Phillips Sutton has brokered a deal to lease a city centre office building to the University of Leicester.
Acting on behalf of M&M Asset Management, Brodie Faint, surveyor at Phillips Sutton, has let the remaining 17,714 sq ft at Enkalon House on 89-92 Regent Road, in one of the biggest city centre offices deals Leicester has seen over the last 12 months.
The University has moved into Enkalon House after M&M Asset Management acquired the building and completed a refurbishment programme on the remaining suites that also included an upgrading of common areas and external features
Brodie said: “Our client has been rewarded for undertaking the refurbishment works on a building that had been vacant for some time.
“This deal underpins the strength of the city centre office market in Leicester, and, along with the letting of 14,000 sq ft of offices space Peat House which we also completed, shows there is now a lack of good quality office space in the city centre in and around the train station with no new development planned for this area.
“Under these circumstances, we envisage that due to the supply constraints, city centre rents will now begin to rise.”
James Mcwilliams of M&M Asset Management said: “We showed faith in the solid fundamentals behind this asset and were duly rewarded by securing a very good tenant. When operating across the regions it pays to take the right advice at a local level.”