First city co-working space to open in landmark building

Leicester City Council is set to fund the fit-out of a landmark city building with the aim of bringing it to market at flexible co-working space.

The council says it will spend £450,000 on revamping part of the ground floor and basement of the former Fenwick building on Market Street and take a 25-year lease on the new space.

This will sit alongside Aimrok Holdings’ £17m plans for the building which will see it converted it into a 121-bedroom aparthotel, including a hotel lobby bar, restaurant and gym facilities, together with a series of ground floor and basement commercial units. The new development will be called The Gresham, in a nod to the building’s original name.

It will become the first co-working space in Leicester.

City Mayor Peter Soulsby said: “The ambitious plans for the redevelopment of the former Fenwicks building will bring a huge benefit to other businesses in this part of the city centre.

“Building on the success of our workspaces at LCB Depot, Makers Yard and Dock, this new flexible co-working business space will offer a very attractive option for freelancers and for new and small businesses looking for a city centre base.

“We’re very excited to be able to play a part in the exciting wider redevelopment plans for this historic and important building.”

Andrew Crainey, managing director of Aimrok Holdings, said: “We are delighted to be working in collaboration with the City Mayor and Leicester City Council. The council are seasoned operators in this particular property class and we believe that this partnership is a substantial step forward in restoring this iconic building to its former glory.

“Facilitating the council’s new workspace and providing the addition of new commercial units alongside a landmark hotel will help in the regeneration of the heart of this city and give confidence to local businesses to further increase the offering that Leicester provides visitors and residents alike.”

Aimrok Holdings are finalising the investment required for the overall scheme, and building work is due to begin in early 2020.

City Mayor Peter Soulsby said: “The ambitious plans for the redevelopment of the former Fenwicks building will bring a huge benefit to other businesses in this part of the city centre.

“Building on the success of our workspaces at LCB Depot, Makers Yard and Dock, this new flexible co-working business space will offer a very attractive option for freelancers and for new and small businesses looking for a city centre base.

“We’re very excited to be able to play a part in the exciting wider redevelopment plans for this historic and important building.”

Andrew Crainey, managing director of Aimrok Holdings, said: “We are delighted to be working in collaboration with the City Mayor and Leicester City Council. The council are seasoned operators in this particular property class and we believe that this partnership is a substantial step forward in restoring this iconic building to its former glory.

“Facilitating the council’s new workspace and providing the addition of new commercial units alongside a landmark hotel will help in the regeneration of the heart of this city and give confidence to local businesses to further increase the offering that Leicester provides visitors and residents alike.”

Aimrok Holdings are finalising the investment required for the overall scheme, and building work is due to begin in early 2020.