Final Commercial Units Sold at in Glenfield Business Start-Up Development
The final unit in a development of seven commercial buildings within Glenborough Court, Glenfield, Leicester has been sold by specialist land development and property consultancy Mather Jamie on behalf of Lagan Homes.
The units have been designed and marketed as suitable for new business start-ups in order to meet a much-needed gap in the market for small, high-quality owner-occupier investment opportunities. Occupation of the seven units has also created several new employment opportunities in Glenfield.
The site was originally occupied by Glenborough Engineering. When this business closed, having built an adjacent business park, Cawrey Homes purchased the land and self-funded part of the build. Construction was completed in 2021 and Cawrey Homes was subsequently acquired by Lagan Homes.
The seven two-storey units vary in size from 1,238 ft2 to 1,560 ft2 and the businesses occupying the units include professional advisers, electricians, distributors and a wholesale trading business, whilst one of the units is being fitted out to let as an office.
Established in 1983, Lagan Homes Group is at the forefront of high-quality homebuilding, with a range of commercial schemes across the country. An award-winning developer operating in three divisions (England, Northern Ireland, and the Republic of Ireland) Lagan Homes is committed to transforming innovative, creative designs into high-quality homes and through collaboration bringing the public & private sectors to drive economic growth into newly created communities.
Commenting on the deal, Adrian Regan, Land Director, from Lagan Homes said, “The units have been expertly marketed over the past year with strong demand from buyers who want to purchase property as an investment within their pension portfolio. Working together as a team we have achieved a great outcome on this exciting new development which complements other business start-up units we have available on Pear Tree Office Park in Ratby.”
Based in Loughborough, the Mather Jamie commercial property team specialises in the acquisition, sale and lettings of commercial property, including office, industrial and retail units. The team recently won a ‘most active agent’ award, was the highest-ranked agency in Leicester for disposals, and the 5th highest-ranked single branch agency in the East Midlands for both acquisitions and disposals in the 2022 CoStar awards.
Commenting, Alex Reid, Head of Commercial Property said, “High-quality units of this size and location are highly sought after and we have worked hard to create the right interest and ensure each sale has completed quickly so that our client can continue to re-invest and create other similar developments.”
Other advisers on the deal included Emma Ali from Shakespeare Martineau who provided legal advice to Lagan Homes.