Council moves to buy office block turned into flats
The building has been marketed for £6.5m
- Published
Leicester City Council has made a bid for a former office building that has been converted into 55 flats.
The proposal to purchase Citygate House in St Margaret's was signed off by the city mayor on Tuesday.
The building is currently being marketed for £6.5m but the amount offered by the authority is a confidential sum.
A council report seen by the Local Democracy Reporting Service (LDRS) said the purchase would add 55 "much needed" homes to its housing stock.
It said its housing finance team had “considered the proposal and based on the negotiated purchase price and forecasted rents has established that the purchase would make a positive contribution” to housing finances.
The council is also exploring a range of other opportunities to secure more affordable housing, the report added.
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