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Why are there many new developments being built in Leicester?

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Fri 29 Mar 2019

Why are there many new developments being built in Leicester?

With the recent news from Hometrack that Leicester is the number 1 place to invest in property, its not difficult to see and understand why there are many developments being built around the city and its surrounding parts.  

Many of these areas of the city, had vacant plots of land for many years, however, developers & investors feel that now is the time to develop in Leicester.  In the city, many of these developments are apartment blocks, which will be mainly used for the rental market “Build to Rent”.

This American concept, took over many parts of London and is now spreading over the UK including Leicester, where developers & investors are developing apartment blocks with a range of services including 24 hour security, fitness facilities, cinema and many other luxury amenities.  

Although a new concept and one to see if it works in Leicester, there are other types of developments taking place too, including Novotell’s £50 million hotel opposite John Lewis. 
 

Taking a tour around the recent announced developments in Leicester, we can start with Bath Lane, a £51 million development which is to regenerate the Waterside area overlooking the River Soar. Developer Jamie Lewis plans to build circa 385 one and two bed rental apartments, which should be ready by 2020. 

Fenwick once an upmarket department store should be ready this year for new tenants to move in.  Developer Aimrol Holdings has recently been granted planning permission to develop 111 luxury flats, alongside a rooftop bar.  The development will also feature a ground floor bar, gym, conference room, office space and commercial units. 

Beaumont Leys is also seeing an £85 million project currently taking place, which is set to provide up to 3,000 new homes alongside a community centre, health facilities, retail space and greenery. 

Fleet Village is a £50 million development, which is currently waiting planning permission to be developed around the Lee Circle area, where other developments are currently taking place.  This development is to feature a concierge service, fitness centre, cafe and retail units.

These new developments are taking place alongside many other existing ones in the city including a new development in Frog Island, where boards have gone up. It’s not difficult to see why Hometrack has ranked Leicester has the number one place to invest in.  We are seeing some great buying opportunities too for first time buyers, existing property owners and property investors. 

Since the start of the year, our team has been incredibly busy and in some cases, we have seen properties not last two weeks on the market, such as three bedroom house on Kitchener Road in North Evington, which had 72 viewings and over 15 offers !

Don’t let an opportunity pass by, if you are considering taking that first step on the property ladder, upgrading or downsizing home or are a budding property investor, speak with a member of our professional team, who will be more than happy to assist you.

 

With some amazing properties and deals available, its a buyers market.  Click here to view our latest properties for SALE

Whether you are buing to invest or move in, we are confident we can find you your ideal property.  For an informal chat, e
mail me directly at ravi@seths.co.uk or call 0116 266 9977 for honest, expert and friendly advice.
 

Thanks for reading !

Ravi Seth

Managing Director

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