Office News

Boundary Real Estate Partners (BREP) has secured a new letting at Granite House, the HQ building at Watermead Business Park, Leicester, marking the largest office letting in the city this year.

The new tenant, who will be relocating within the area, has taken the entire 25,000 sq ft first floor of the newly refurbished HQ building, to support its customer service operation.

Granite House has undergone a substantial transformation following its acquisition by Boundary in December 2021, as part of a wider portfolio in the area. Over £1million has been invested into the property, delivering a new double height reception with feature staircase, full refurbishment of the welfare facilities and installation of shower facilities, plus other substantial upgrades to improve the EPC rating to B.

Granite House has one of the highest parking provisions provided in the East Midlands. As part of this provision, Boundary has installed 20 EV charging points, with the infrastructure for 40, far higher than the average across the UK. The team has also been working closely with Choose How You Move Leicester County Council to provide a grant for E-bikes to serve occupiers at Watermead Business Park.

Totalling 50,000 sq ft over two floors, the ground floor of Granite House is also occupied by Global Payments, housing its UK HQ, employing many people in the area. The building is set on a large plot in the established business park which is located just off the A46 and A607 in between Thurmaston and Syston.

Rebecca Gregory of Boundary Real Estate Partners comments:

“The team have been working closely with our tenants at Watermead Business Park and wider stakeholders as part of our ongoing repositioning of the park and our plans for the wider area. The high-quality refurbishment of Granite House is part of our strategy to provide ‘best in class’ business space to meet occupier demand in the area, which carry over to our plans for Phase 2 of Watermead Business Park.”

Earlier this year, Boundary submitted plans to develop the land adjacent to Watermead Business Park, across the A406, allocated within the local plan, to provide a high-quality employment park. The proposals for this former gravel sorting plant will bring the disused land back to life, providing further employment for the region.

Mark Tomlinson, Director at FHP who acted on behalf of landlords, BREP, at Watermead Business Park, comments:

“We have seen a drive towards quality among occupiers with a particular focus on lifestyle and wellbeing alongside the continued focus on energy efficiency, and it is important that the regional office market delivers office buildings to cater for these requirements.

“The landlords, BREP, were quick to recognise the repositioning potential of Granite House to meet occupier demand and we are delighted to have delivered this letting to the new occupier who will have a real standout office space here.”

FHP and CBRE are joint letting agents for Granite House.

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