Sale of landmark offices could bring new jobs to Leamington
From left: Mark Thompson (Wareing & Company), and Hardeep Malle, Shalbinder Malle
AN AMBITIOUS speculative investment in a landmark Leamington building during these troubled economic times looks set to reap positive results.
And there are hopes that it could boost job prospects by tempting firms looking for modern office space to relocate to Leamington.
Victoria Court, the old Law Society offices in Dormer Place, has been bought by Leamington property development company Hatchback Ltd.
The company, run by chairman and founder Shalbinder Malle and his managing director son Hardeep Malle, bought the 33,000 sq ft building from the Law Society last month.
It used to house the Office for the Supervision of Solicitors but the Law Society moved its staff to Birmingham.
Leamington property agents Wareing & Company, which acted for Hatchback in the purchase, has 50 per cent of the building under offer and hopes to complete the deals by the end of this month.
Mark Thompson, a director of Wareing & Company, said Hatchback’s track record in the area’s market was a very good indicator that the building would attract strong interest.
He said: “Hatchback has built a highly impressive portfolio of properties over the last 25 years.
“It recognised that this is a landmark building which has great potential and was prepared to back that judgement.
“Although it has a period façade, it was purpose built as offices in the early 1990s and offers large floor space in the heart of the town which appeal to companies and organisations.”
Mr Thompson was tight-lipped about who are likely to move in because of confidentiality but said: “The two interested parties are companies in the area needing to expand but wanting to remain in the centre.”
He said interest in the building had also come from further afield, adding: “It is from larger occupiers looking to relocate to Leamington and we are hopeful that it will come to fruition.
“Normally, period buildings have small floor spaces with lots of rooms, but while this fits in perfectly with the architectural style of the town, it was totally designed to suit modern business practices.”
Mr Thompson said Hatchback’s other properties include a 110-bedroom, purpose-built student block, shops and offices.
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Thursday 23 May 2013
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