The old home of the Leicester Mercury has gone on the market with an asking price of £10.5 million.
The former home to the regional daily paper, called Mercury Place, is owned by HPPUT, part of the Daily Mail & General Trust pensions scheme.
The Mercury moved out after the publication was sold by the Daily Mail group. The paper and website LeicestershireLive are now part of Reach PLC – publisher of the Daily Mirror and Daily Express and the UK’s biggest commercial regional news and website publisher. Reach Plc also owns the BusinessLive brand.
The building in St George Street, near to Leicester station and the city’s Cultural Quarter, is now home to businesses including Barker Ross Recruitment, stockbroker Charles Stanley, Aon and the PPL PRS. The former Mercury press hall area is now a Boost trampoline park.
Midlands commercial property agents FHP said: “After working with our clients HPPUT for the past 12 years refurbishing and letting the former HQ of the Leicester Mercury newspaper and transforming the building into one of Leicester’s best quality office buildings we are delighted to have been instructed jointly with Gerald Eve to market the freehold of the property.
“We are seeking offers in excess of £10,500,000 which reflects a net initial yield of 8.75 per cent and a low capital value of £123 per sq ft.
“There is great opportunity to add value through rental growth within the office areas and in due course a potential repositioning of the leisure unit to the rear.”
