Insider Media Limited

Industrial property take-up in Leicester soared by 38 per cent in 2010, according to Innes England’s Market Insite report. The property agent said the increase was “enormous” compared to previous years.

Innes England’s report also revealed the city’s Highcross Centre welcomed 18.5 million visitors last year, compared to The Shires mall, which reported an annual footfall of 11 to 12 million.

An upturn in office activity on out-of-town sites was also reported. Innes England attributed to the rise to competitive city centre pricing.

Peter Doleman, director of the Leicester office, said: “While 2010 was a challenging year for us all in the property market, we saw that industrial take up in Leicester was enormous compared to previous years.

“We saw a rise in industrial take up of 38 per cent to around the same as levels seen in 2008, when the property market was at its peak.

“Industrial take up in Leicester has been strong, partially due to the city’s varied sector base, having now fully diversified away from an economy dominated by the textile and show trade.”

Office take up levels were down slightly on 2009m but Innes England described the current market as “steady”.

Doleman said: “There is concern as to where the next round of office development will take place within the city – and who will do it.

“The area alongside the train station has been highlighted by inward investment body Prospect Leicestershire as an important strategic location but there must be a concern over deliverability. There has been an increase in the amount of high quality space available in the city centre, though Goodman’s Colton Square is the only new speculative stock.”