Waterside land purchase planned

Published on 10 March 2015

PLANS for a £1million purchase of land in the heart of Leicester’s proposed Waterside regeneration area have been announced by the city council.

The city council intends to purchase seven sites, covering a total of 1.1hectares of land, from the Homes and Communities Agency (HCA).

The proposed sale would be paid for with Government funding earmarked for regeneration in the area.

Once the sale is complete, the city council will take on the freehold of the seven sites, which are all currently used for commercial and industrial purposes.

City Mayor Peter Soulsby said: “The acquisition of these seven sites is very important for our long term vision to transform Waterside over the next ten to 15 years.

“These properties are in a key location, and their purchase will help put us in a much stronger position to kick-start regeneration in this area.

“Waterside has the potential to be one of the most exciting large-scale regeneration opportunities in the East Midlands. This is an important first step, and I am delighted that we have been able to work so closely with the HCA to make this happen.”

Full details of the planned purchase cannot be released until contracts have been signed, due to commercial sensitivity.

A final decision on the proposed purchase is due to be taken on Wednesday, March 18.