Friars Mill, Leicester – Leicester City Council
Friars Mill in Leicester is an historically important Grade II Listed building. The Mill was severely damaged by a fire in 2012, following which the Council bought the building to help protect it from further decline. The objective is to preserve the historical nature of the property while bringing the building back into use and for it to serve as a catalyst for further regeneration in this part of Leicester.
Urban Delivery was instructed by Leicester City Council to identify options to bring this building and surrounding site back into an economically viable use. Working with a professional team it was possible to identify a number of options for renovation and development with a focus on employment uses and potential for residential development. The preferred scheme is to provide managed workspace for growing local businesses. The workspace will be managed by the Council although it was important that the completed scheme will be self-funding.
In order to help fund the development works the Council successfully applied for £3.9m of ERDF funding. This application required the creation of a viable business case demonstrating that the proposed use will be deliverable and will generate economic growth in Leicester.
Advice included: property market research and analysis, review of planning policy and the formulation of land use proposals, development appraisals and sensitivity analysis, delivery and implementation advice.
The project is now on site and will deliver 20,000 sq. ft. of managed workspace.