Property deal paves way for office-led complex in Leicester

Plans to create an office-led development totalling about 215,000 sq ft in Leicester have taken a step forward with the completion of a multi-party property deal. 

Law firm Nelsons has advised Leicester City Council on a multi-stage commercial property transaction, securing a key site for the city's regeneration.

This completion marks a major milestone in the transformation of the Midland Street area, with the ultimate vision of creating an office-led commercial complex.  

Nelsons executed a series of interconnected legal movements in just six weeks. This involved managing a land swap with an external company to consolidate the site, followed by an onward sale to Homes England to trigger public funding. 

The deal secures one of only two allocated office sites and unlocks government funding for public realm improvements. Work can now begin to create a pedestrian link between Leicester Railway Station and the Cultural Quarter.

James Coningsby, partner and commercial property solicitor who has led the transaction, said: "This was a particularly intricate deal involving multiple stakeholders and a layered structure of exchanges and leasebacks. Navigating these complexities within a strict timeline required a proactive and pragmatic approach. Working with Homes England and private entities also required a significant collaboration to ensure the council’s long-term regeneration goals were protected. 

"The council's vision for the Midland Street area is now one step closer to reality, and we are proud to have provided the legal framework to bring this complex piece of the puzzle together."

Nelsons was initially appointed by the council in late 2024 for a separate Levelling Up scheme. Following that achievement and a tender exercise, Brendan McGarry, programme manager at LCC, appointed the firm in to lead on this more complex land swap in early 2025. 

McGarry said: "Securing this site was essential. We needed to hold the land to bid for the investment, and this deal enables our planning consent to push forward. Nelsons' ability to handle the land swap, sale, and lease simultaneously was impressive. 

"The team was approachable and proactive throughout a very difficult six-week period, providing the great response times we needed to get this over the line. 

"I am very impressed by James' work on this project and grateful for his expertise in closing this deal."