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Published on: Deals

Win-Win Student Development Proposed

We have acted for City Styles in Leicester for many years. They have run a thriving business from a very ordinary factory on St Nicholas Circle in Leicester since 1988.

Recently the area around them has changed. The Leicester Waterside development directly behind their factory has brought massive new residential schemes with many more in the pipeline. The Highcross Shopping Centre and the inspirational Jubilee Square have completely changed the environment around their factory. Now there are only two blots on this area of runaway regeneration. City Styles’ factory and the early 1970’s carbuncle that is the Holiday Inn.

City Styles continue to grow and have recently purchased a larger factory on Parker Drive in Leicester. So they now need to dispose of the St Nicholas Circle site to fund that relocation and expansion. Which is where Intali come in.

Clearly the site has development potential but for what? Residential, student, office, hotel or a combination of uses? Each use type generates a different site value and development return. Each has its own complications, not least of which would be securing planning permission. And City Styles wanted certainty.

You would be better off picking next week’s lottery numbers than expecting certainty in planning. We know our strengths. We can do the numbers, the feasibility, the site and investment values and development returns. We also know our weaknesses and so to progress these options we recommended the client appoint Staniforth Architects.

They have provided various schemes for consideration before deciding on the beautiful student development shown above. Following extensive pre-application consultation between Staniforth and Leicester City Council this scheme has now been submitted for planning.

The proposal will provide 94 bedrooms in 79 flats and a C-store retail unit to serve the burgeoning residents of the Waterside area. It will also vastly improve the road frontage to this important gateway to Leicester and naturally link the Waterside to the city centre. Most importantly it will help City Styles to grow their manufacturing business in the City.

A win-win? We think so.

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