More city centre offices to be turned into flats

A Leicester city centre office block is set to be converted into flats following its sale to a private investor for £1.5m.

Property agents Cushman & Wakefield have sold Pannell House on Charles Street, which is likely to be converted into apartments once plans have been finalised.

Pannell House totals 12,931 sq ft over six floors and has 20 car parking spaces to the rear.

Joe Williams, associate in Cushman & Wakefield’s Residential team said: “Leicester is clearly experiencing high demand for residential opportunities. The three transactions we have delivered have transacted for a combined total of nearly £10 million and all equate to over £100 per sq ft. These sales provide demonstrable evidence of the pent-up demand for apartment led developments in the city.

He added: “Pannell House will provide much needed, quality residential accommodation suitable for young professionals or students.”

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