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Leicestershire Special Report


One of the most exciting developments in Leicestershire is underway as ground was broken at Space Park Leicester.


Space Park Leicester is a true collaboration between the public and private sectors, and between industry and academia. The Leicester and Leicestershire Enterprise Partnership Ltd. (LLEP) has backed the project with £8.175 million from its £126m Local Growth Fund, due to the economic benefits it will bring.


When it opens in 2021, Space Park Leicester will be a world-leading centre of space research and technological development. The site includes facilities for small businesses and start-ups to carry out vital research in space-related industries. The sites key focus on the space industry will help the UK capture a growing share of the global space market, that is projected to be worth £40bn and creating 100,000 jobs by 2030.


Kevin Harris is Chair of the LLEP Board of Directors. He said:


“Nationally, the Space technology sector is of crucial importance to the UK economy


East Midlands law firm celebrates 10 years of corporate success


Fraser Brown Solicitors recently toasted the 10th anniversary of its corporate finance team at a celebratory event in Nottingham marking a distinguished decade of growth and expansion.


The award-winning corporate depart- ment was founded in 2009 by corporate law partner Gavin White, and since its inception it has gone from strength to strength; quadrupling in size from one partner and a trainee, to the current composition of three partners, one sen- ior associate, two solicitors, a chartered legal executive and a paralegal.


Senior associate Peter Abel joined the team as a solicitor back in 2014 from Birmingham-based Shoosmiths solici- tors, followed closely in the same year by corporate law partner Tom Gray, who worked previously at internation- al American law firm DLA Piper, and trained and practiced in Nottingham at Freeths solicitors.


Partner and solicitor, Ed Capes, joined the firm’s newly opened Lincoln office back in September 2018 from Sills & Bet- teridge where he worked as corporate partner for more than 10 years, provid- ing advice and support on a wide range of transactional projects for a diverse portfolio of clients.


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and here in Leicester and Leicestershire, we want to be at the heart of this transformational industry.


“Space Park Leicester is a top priority in the LLEP’s Local Industrial Strategy (LIS). Our LIS will set out our ambition to provide our region with a global competitive advantage and make Leicester the destination for innovative space-sector businesses.


Science and Universities Minister Chris Skidmore said: “The UK’s space sector is booming, bringing with it new advanced technologies and high-quality new jobs across the country.


“The new Leicester Space Park will be another boost for national space research as well as the local economy, building on the city’s rich space heritage.”


Space Park Leicester is part of the Loughborough and Leicester Science and Innovation Enterprise Zone.


New £55m Nottingham city centre deal agreed


UK top 200 corporate law firm, Shulmans LLP, has exchanged the land and funding agree- ments on behalf of developer, Blocwork LLP, for the redevelopment of disused land off Queen’s Road adjacent to the railway sta- tion, replacing a former car park. The deal is worth in excess of £55 million. Planning permission has already been secured for the 348-unit complex. A mix of upmarket studio, one, two and three-bedroom homes will be built for long-term rent. The complex will also feature a roof terrace, gym and mixed- use commercial space on the ground floor, as well as 47 parking spaces and 264 cycle storage spaces.


The site is currently owned by Network Rail which, together with development company bloc Group, have formed the joint venture, Blocwork LLP. It seeks to regenerate key Network Rail owned sites which are current- ly "under-utilised to maximise their poten- tial" across the UK.


Prior to works commencing on the site, the property will be sold to investor Grainger Residential Limited who will forward fund the BtR scheme. Associate in Shulmans’ Com- mercial Property team, Kate Johnson, led the property aspects of the transaction – includ- ing site acquisition, the sale to Grainger and the Development and Funding Agreement, whilst Maria Fert and Sarah Wilson dealt with the construction documentation relat- ing to the deal.


UKCM secures 14,518 sq ft lease to Currys at St George’s Retail Park in Leicester


UK Commercial Property Aberdeen Standard REIT Limited


(“UKCM” or the “Company”) (FTSE 250, LSE: UKCM), which is managed and advised by


and owns a diversified portfolio of high quality income-producing UK commercial property, announces that it has completed a lease renewal with Currys DSG on a 14,518 sq ft retail unit at St George’s Retail Park in Leicester.


DSG, the parent company of several


electronics retailers including Currys and PC World, signed the 10 year lease renewal at a rent in line with ERV, with a fixed uplift following the expiry of the previous lease in November 2019.


Currys join Costa Coffee, which opened a coffee convenience pod on a 10 year lease in March 2019, in addition to Aldi, Iceland, Pets at Home, Laura Ashley, Tapi, and Home Bargains.


Will Fulton, Lead Manager of UKCM at Aberdeen Standard Investments, said: “St George’s Retail Park is one of Leicester’s primary retail destinations and this latest renewal secures a key operator for a 10 year term. St George’s continues to improve and provides consumers a quality offering.”


UKCM was advised by Harvey Spack Field and Morgan Williams.


Investments*


Charnwood Edge Business Park


An outstanding office premises with prime urban links and premium facilities has become available for sale with vacant possession or to let just north of Leicester, though joint commercial property agents Mather Jamie and Lambert Smith Hampton (LSH).


The purpose-built property is a sleek, two- storey detached glass and steel structure occupying a highly prominent location within Charnwood Edge Business Park on Syston Road, Cossington.


A key advantage of the site is the fast access it affords to the A46, Junction 21 of the M1 and the Leicester western bypass, with Leicester itself just six miles to the south, Loughborough eight miles north and Nottingham 20 miles to the north.


COMMERCIAL PROPERTY MONTHLY 2020


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