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6th September 2005

Regeneration in Leicester Receives a Kick Start

Leicester Regeneration Company and East Midlands Development Agency (emda) have announced a deal that could create 600 jobs and kick-start the city’s New Business Quarter.

The deal with office and business park specialist, Akeler, will see the redevelopment of the Charles Street police station to create a high quality office complex, plus apartments. Akeler will work with site owners emda to deliver the first phase of the business quarter project, which will provide 10,000 sq m of Grade A office space.

John Nicholls, Chief Executive of Leicester Regeneration Company, said: “The deal marks a huge step for Leicester in two ways. It’s the first of our masterplan projects to be signed up for development, and provides the first high-quality speculative offices in the city for many years, breaking the deadlock in the Leicester office market. The New Business Quarter is a key project in transforming the Leicester economy by growing new types of employment here. Later phases will re-structure the station area and provide a further 40,000 sq m of office space and another 3,400 jobs.”

“ We are very excited at this success and are grateful to our partners at emda who bought the police station site on our recommendation and have worked closely with us to finalise this deal. We are also indebted to Akeler for their confidence in our plans and commitment to this negotiation.”

Niall McGilp, Director of Akeler, added: “Leicester offers huge potential as a commercial growth market, but currently lacks high quality office space in the city centre to drive economic development. Charles Street is a prime location for such a project, supported by its central location, excellent transport links and access to a highly skilled workforce. We will be lodging our application for planning permission in the next few weeks, and all being well, expect work to start on site early next year.”

Ian Lodder, Director of Partnerships at emda continued: “We have committed a lot to this project and are thrilled that a deal has been signed. We can now start working with Akeler and Leicester Regeneration Company to deliver this vital project.” Leicester Regeneration Company’s masterplan recommended five projects for the physical regeneration of central Leicester. Work is expected to start this year on a second project, the Science and Technology Park. Good progress is being made on plans for the Waterside, New Community and the upgrading of the retail circuit.

For further information on Leicester Regeneration Company please contact:
Emma Taylor at hopwood on or email

For further information on Akeler please contact:
Liz Kearney, Camargue on 020 7636 7366 or email

For further information on emda please contact:
Matt Genever on or email

For further media information
CONTACT Amy Puttick at hopwood on

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