Midlands-based business energy and water supplier Yü Energy has demonstrated its confidence in Leicester following a multi-million-pound commercial property deal, which was advised by local law firm Nelsons.
The 17,000 sq ft site, in Northgate Street, is the first commercial property deal to complete at Leicester’s new Waterside development scheme and will become a permanent state-of-the-art sales and innovation office for Yü Energy’s growing sales and marketing team.
Acting on behalf of the commercial utilities provider, Nelsons supported the business with property planning and construction law input in connection with the acquisition.
James Coningsby, partner and commercial property solicitor at Nelsons, said: “We’ve been working with Yü Energy for several years and have seen the business grow from strength to strength – it’s great to see that such a significant local employer is investing further in the East Midlands region and, in particular, Leicester.”
The purpose-built office, which is due to be developed by Leicester-based Brackley Property Development, is set to open in January 2021. Transferring its existing sales, marketing and product team from its current offices in East Street, the new property will allow for Yü Energy’s ambitious plans for growth, supporting the drive to invest in new sales channels and digital innovation. The move will provide space for up to 250 staff, in time, taking the team to a total 400-strong work-force across Nottingham and Leicester.
Bobby Kalar, CEO for Yü Energy, said: “Despite business uncertainty for many sectors, we’ve found that our service offering is resonating incredibly well with customers. There remains an enormous market opportunity to engage with the vast number of businesses who are disengaged with their current utility supplier. They are looking for value for money, convenience and excellent customer care from their water and energy provider, and we ensure that our service meets these high standards.
“Investing further in Leicester has always been on the cards for us and the new Waterside development was the ideal location; it’s easily accessible by public transport and the perfect place to tap into the fantastic talent pool Leicester has to offer. As a significant investment and a crucial part of our business strategy it was essential we had an experienced solicitor working with us – we’ve been really pleased with the advice and service provided by Nelsons and look forward to developing an on-going relationship with the firm.”
Stephen Pedrick-Moyle, managing director at Brackley Property Development, said: “We are thrilled to secure Yü Energy as the first commercial property resident at Leicester Waterside and look forward to welcoming other businesses to take up space at this key regeneration scheme.”
Kevin Harris is Chair of the Leicester and Leicestershire Enterprise Partnership Ltd. (LLEP) Board of Directors. The LLEP invested £20 million from its Local Growth Fund into the Waterside redevelopment project at part of the Loughborough and Leicester Science and Innovation Enterprise Zone. He said:
“It is wonderful to see this investment from Yü Energy in Leicester’s Waterside. The development there has seen state-of-the-art office facilities constructed, ready for energetic businesses to move into. Yü Energy’s arrival at Leicester Waterside further underlines Leicester as a fantastic place to work, to invest and to do business. I’m delighted that the LLEP’s investment in this redevelopment project is bearing fruit, and providing businesses with the space they need to grow.”
