PAI, commercial property network members Peill & Co in the Lake District and Innes England (the PAI member for East Midlands) are collaborating on a disposal of a large site close to the centre of Leicester on behalf of a substantial French corporation.
Simon Adams, Managing Director of Peill & Co commented "we are currently acting on the disposal of a property in Cumbria on behalf of a corporate client who asked if we were able to offer advice on the disposal of part of their site close to Leicester city centre. We were delighted to be able to confirm to our clients, that whilst we are not active in the East Midlands market, our closely trusted partners Innes England are well placed on the ground, with an office in Leicester, who could offer advice to the client. Within a matter of days, I was able to meet Peter Doleman from Innes England on site to look at the opportunity which forms part of the long standing Bostik Chemical Co site (which has had a presence on Ulverscroft Road in Leicester for over 100 years) we were able to report our marketing recommendations to the client straight away."
Both firms were subsequently instructed in the marketing of the site, which extends to approximately 2.8 acres and includes a 20,000 sq ft office building and 17,000 sq ft warehouse.
The site is now being marketed jointly by Innes England and Peill & Co and substantial interest in the site has been received, which is being managed by Innes England locally whilst Peill & Co retains the contact with the corporate client. Simon Adams further commented "this is a prime example of the strength of the PAI network – without our membership of PAI, we would not be best placed to offer advice on values and marketability of a site in Leicester but having the comfort that we have a well trusted and well-regarded partner in East Midlands, meant that we were able to offer our client a seamless service for their property disposals in both Cumbria and Leicestershire’.
Details of the site are available at https://www.innes-england.com/ which is being marketed for offers in excess of £2.2m.