Goodman likely to lower rent to attract tenants for Leicester office scheme

Posted under General by Michael

The international property group, Goodman, owner, developer and manager of industrial space and offices, launched final phase of regeneration project, worth £25m in Leicester.

Two Colton Square with 55,040 sq ft would have high quality offices and leisure space on four floors. Colton Square, located in the New Business Quarter would be first A Grade office development in Leicester’s centre regeneration in more than a decade.

High profile businesses Freeth Cartwright and Cooper Parry are among the tenants from the first phase of development to occupy One Colton Square in May 2007. But nearly half of the 50,000 sq ft. space is still unoccupied.

The development of Two Colton Square on Charles Street involved restoration and retaining of original features of the Grade II listed building.

Goodman’s UK development director, James Raven is negotiating with potential tenants. He said that Goodman would adopt pragmatic approach to the aspiring tenants.

Goodman might consider lowering of office rental price from £16.50 sq ft to nearly £13 sq ft to attract tenants to the second phase of development.

Colton Square is being developed as part of Arlingto Business Parks Partnership fund. Other Goodman’s schemes include Eastside Locks in Birmingham City Centre and Birmingham Business Park.

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