Leicester’s New Business Quarter – already forging forwards with the landmark Colton Square development - has been given a boost with the news that planning permission has been granted for another Grade A office project. The redevelopment of International House and surrounding buildings, on Granby Street, combines sustainable office space and leisure units, and provide accommodation for 800 new jobs in the city centre.

 

The site for the 90,000-square-foot development has been assembled by developers Cathco: “We are delighted to have planning permission for the project. We have great confidence in Leicester’s regeneration Masterplan, and we recognise the potential of the New Business Quarter in attracting new businesses to the area.”

The design of the building will create a new focus of interest on Granby Street, one of the city’s main thoroughfares, and new bars and restaurants on the ground floor will help to revitalise the area between Dover Street, Northampton Street and Leicester Station.

 

John Nicholls, chief executive of Leicester Regeneration Company, said: “This a big step forward in the development of the New Business Quarter, which is going to bring a better range of jobs to the city. The area is really starting to take shape, and we are sure International House will play an important part in revitalising Leicester’s economy.”  Alongside Colton Square, the development brings the total office floorspace with detailed permission, to over 40% of Leicester Regeneration Company’s target for the New Business Quarter.

 

Elsewhere in the New Business Quarter, Colton Square will be getting its first tenants next month (July), when business advisers Cooper Parry move in to the ground floor. Interest in the remaining space is strong. Cooper Parry are relocating from King Street, Leicester, and will take 20 per cent of the space available on a ten-year lease.

 

Work on the second part of the Colton Square development, on the site of the former Charles Street police station, has now begun and will bring a further 50,000 square feet of office space into the city. A development of 40 apartments, by City and Thames is now underway, with the site set to complete in October.

 

James Pitt at Colton Square developers Goodman commented: “We have been working closely with the Leicester Regeneration Company, and Colton Square is developing into an incredibly dynamic scheme. The conversion of the Grade II listed building to contemporary offices will make it an excellent location to work and live. At the same time we will ensure that it retains a lot of its original character, which is an important part of Leicester’s architectural heritage.”

 

The New Business Quarter is one of five key areas in the Masterplan for regeneration of Leicester and work is now advancing on site in four areas. Throughout the city, development is underway, with more than £3 billion forecast to be invested over the next few years.