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Developers Consider Council Plot

Posted by Richard Ward in

Image courtesy of Flickr, Creative Commons

Leicester City Council is looking to offload unused land on Conduit Street to a student accommodation developer.

The sale of the plot of land near Railway station could net Leicester City Council £750k.

Student Urban Living Leicester has already been granted planning permission to build a seven-storey block of student accommodation containing 159 beds on the adjacent site in South Highfields.

The same developer is now looking to buy the council's unused plot, with the intention to add a connecting block containing an additional 101 rooms.

A council report on the proposed deal said: "The sale is to an adjoining owner who, as a special purchaser, is able to offer higher value than would be expected from an open marketing exercise."

"This has been evidenced by an independent valuation."

Meanwhile, Leicester's Mayor Peter Soulsby suggested the deal will result in a useful capital receipt and will result in a welcomed redevelopment of the area.

The sale will only go ahead if Student Urban Living receive planning permission for the proposed second block.