Lambert Smith Hampton has been appointed by Leicester council to carry out a major study aimed at increasing the amount of prime office space in the city.
The study will examine commercial office space in Leicester, analysing stock and rent levels, determining levels of future demand and identifying sites for office development.
Jane Taylor, director in LSH’s Leicester office who is leading the project, said the lack of grade A office space in Leicester was a barrier to attracting occupiers and inward investment.
“The city’s commercial area has a shortage of grade A office space and in recent years the city centre has lost financial and professional services to business parks on the outskirts. Current economic conditions and a lack of investment finance has restricted the development of speculative office development, and Leicester, like most cities, has seen only a limited amount of new grade A office space built.”
The council wants to establish a Leicester Office Forum modelled on similar bodies in Birmingham and Nottingham, bringing together property agents to input information to the study, and, supported by the Leicester and Leicestershire Economic Partnership, plan office strategies for the future.
Lisa.pilkington@estatesgazette.com
