Saturday, September 26, 2020

£450k boost for Fenwick revamp plans

Plans for a major revamp of Leicester’s historic former Fenwick building are set to get a boost with £450,000 of council investment for a new flexible workspace.

Leicester City Council has announced plans to create almost 12,000sqft of flexible co-working business workspace in part of the ground floor and basement of the 1880s-built four-storey property in Market Street.

The city council will invest £450,000 to fund the fit-out and set up costs of the proposed workspace and then take a 25-year lease on the new space. Council funding for the proposed co-working scheme will come from capital set aside for the Leicester Economic Action Plan.

This will support and complement Aimrok Holdings’ £17million plans for the building which will see it converted it into a 121-bedroom aparthotel, including a hotel lobby bar, restaurant and gym facilities, together with a series of ground floor and basement commercial units. The new development will be called ‘The Gresham’, in a historic nod to the building’s original name.

Serviced co-working business space is a growing market that is particularly attractive to start-up companies, freelancers, sole traders and small businesses looking for a flexible and affordable workspace.

This would be the first dedicated co-working business space to be developed in Leicester, though similar facilities are becoming more common in other cities including Birmingham, Nottingham, Derby and Coventry.

City Mayor Peter Soulsby said: “The ambitious plans for the redevelopment of the former Fenwicks building will bring a huge benefit to other businesses in this part of the city centre.

“Building on the success of our workspaces at LCB Depot, Makers Yard and Dock, this new flexible co-working business space will offer a very attractive option for freelancers and for new and small businesses looking for a city centre base.

“We’re very excited to be able to play a part in the exciting wider redevelopment plans for this historic and important building.”

Andrew Crainey, managing director of Aimrok Holdings, said: “We are delighted to be working in collaboration with the City Mayor and Leicester City Council. The council are seasoned operators in this particular property class and we believe that this partnership is a substantial step forward in restoring this iconic building to its former glory.

“Facilitating the council’s new workspace and providing the addition of new commercial units alongside a landmark hotel will help in the regeneration of the heart of this city and give confidence to local businesses to further increase the offering that Leicester provides visitors and residents alike.”

Aimrok Holdings are finalising the investment required for the overall scheme, and building work is due to begin in early 2020.

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 lockdown having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £33.60 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.






Latest news

20 years in the making – Serena Humphrey launches ‘The F Word Academy’

One of the region’s most respected business figures, Serena Humphrey, has celebrated two decades in business and more than 30 years in the financial...

East Midlands Bricks Awards 2020 goes fully digital

East Midlands Business Link is pleased to announce that despite Governmental guidelines making in-person conference and events of the size of the Bricks Awards...

University to create Smart Wireless Innovation Facility as part of ‘smart campus’ project

Nottingham Trent University’s Clifton Campus will see the implementation of new 5G connectivity and infrastructure as part of a new ‘smart campus’ project. As well...

Time Out: Ashley Oates, Head of Sustainability at Ward

The weekend has crept up on us once again. That means it’s time for some quickfire questions with another business leader from our region. For...

Commissions calls for £4.2bn annual skills investment to combat COVID, reboot economy

The Future-Ready Skills Commission is calling for £4.2 billion of skills investment a year to reboot the economy and help the UK recover from...

Related news

Haulage, storage and distribution firm secures 55,000 sq ft unit at St. Modwen Park Lincoln

St. Modwen will have another new occupier at St. Modwen Park Lincoln after haulage, storage and distribution firm George H Kime & Co Ltd...

20 years in the making – Serena Humphrey launches ‘The F Word Academy’

One of the region’s most respected business figures, Serena Humphrey, has celebrated two decades in business and more than 30 years in the financial...

East Midlands Bricks Awards 2020 goes fully digital

East Midlands Business Link is pleased to announce that despite Governmental guidelines making in-person conference and events of the size of the Bricks Awards...

University to create Smart Wireless Innovation Facility as part of ‘smart campus’ project

Nottingham Trent University’s Clifton Campus will see the implementation of new 5G connectivity and infrastructure as part of a new ‘smart campus’ project. As well...

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close