A Leicester store, formerly a Fenwick has undergone a multi-million-pound renovation in order to become a mixed use site for leisure and retail. It was announced that the site will create city centre apartments as well as around 150 jobs in the city centre. It is thought that this project will deliver much needed housing to the city centre.
Aimrok Holdings will be the developers for this project and has recently purchased the Market Street store for a seven figure sum. The next step for the company will be to seek planning permission for the proposed four retail units. If approval is given for these units, they are expected to be used for a Champagne bar, restaurant and gym which will be located along the basement and ground floor of the former Fenwick store. Aimrok has also announced their intentions to build 90 high end apartments on the upper floors of the Market Street building. These apartments, when completed, will be available to rent. If the project goes ahead, it is expected that 150 jobs will be created during the building works and after the completion of the development.
James Coningsby, the head of commercial property at Nelsons Solicitors acted for Aimrok during the purchase of the city centre store. Funding to allow the purchase of the building was provided to Aimrok Holdings by the Leicester based Cambridge & Counties Bank.
The iconic building has a wealth of history and offers Aimrok an exciting opportunity to preserve the building while also repurposing it. It is thought that adapting the building in order to create a mixed use scheme will make the building more sustainable going forward. The scheme drawings are being created currently and it is thought that the planning application process will start later in the summer.
Fenwick of Leicester Ltd closed at the end of March, before being purchased by Aimrok. Aimrok have completed developments in Leicester city centre before this one, including the Bishop Street Post Office site. At this Bishop Street location, a student residency space for 74 people was created. The company also carried out a major residential development in Hotel Street.
