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25 March 2019

Sale of Riverside Building marks final phase of  Friars Mill regeneration

Sale of Riverside Building marks final phase of Friars Mill regeneration

A prime city centre regeneration scheme at Friars Mill Office Park is set for completion with the £1.4m sale of the Riverside Building to the Leicester branch of Britain’s largest trade union, Unite. 

Leading Leicestershire commercial property specialist Andrew + Ashwell has confirmed the sale, with Unite set to relocate from previous headquarters on nearby Burleys Way to an impressive new building on Bath Lane, constructed by Brackley Property Developments. 

Construction is well underway and the last remaining offices within the scheme the neighboring Fabric Building will be speculatively built at the same time, with completion for both scheduled for May 2019.

Andrew + Ashwell is closely involved in the £80m regeneration of the historic river and canalside industrial area of the city, opposite Highcross, led by Leicester City Council. Friars Mill Office Park and the adjacent Waterside will ultimately deliver an impressive mixed-use commercial and residential development including hundreds of new homes and businesses.

The scheme is seen as an important catalyst for growth in the city, attracting major investment and revitalising a rundown area within a scenic riverside setting.

Friars Mill Office Park is already established as a vibrant commercial development brought forward by the Council, which undertook the refurbishment of the Grade II-listed Friars Mill itself comprising impressive managed workspace overlooking the Grand Union Canal.

The construction of the Riverside and Fabric buildings is a further phase of this development, providing architect-designed, open-plan office accommodation over two storeys maximizing natural light. The Riverside Building will deliver 5,583 sq ft of space and the Fabric Building 4,940 sq ft.

Central location offers easy access to the M1 via the A47 west and the inner city ring road runs adjacent to Bath Lane. Bounded by the Grand Union Canal and with scenic open spaces, footpaths and cycleways, the site is in short walking distance of city centre amenities, including Highcross shopping centre and John Lewis car park. 

Stephen Pedrick-Moyle, Managing Director of Brackley Property Developments, said: 

“We are proud to be constructing these flagship buildings in the final phase of Friars Mill Office Park. It is a real privilege to be involved in regenerating an area of Leicester that has been pivotal in its industrial history and is set to have a great future once again.”

Jane Taylor for Andrew + Ashwell added: “We are delighted that the final phase of Friars Mill Office Park is now set for completion with the forthcoming sale of Riverside Building. The Fabric Building will be the last opportunity for companies to acquire Grade A office accommodation on the Friars Mill site with the building being available freehold or leasehold.

“This is an impressive and highly convenient location for businesses to set down roots, raise their profile and provide a prestigious platform for growth in what will prove a wonderful landmark scheme for Leicester.”