Freehold disposal of: The Holiday Inn, St Nicholas Circle, City Centre, Leicester, LE1 5LX
July 15, 2026 City Mayor (Individual Decision) (Cabinet member) Awaiting outcome View on council websiteThis summary is generated by AI from the council’s published record and supporting documents. Check the full council record and source link before relying on it.
Summary
The City Mayor approved the freehold disposal of the Holiday Inn, St Nicholas Circle, Leicester, LE1 5LX, to the hotel operator for £1.8m plus £20,000 for professional fees on 15 July 2026. The Director of Estates and Building Services approved the valuation, and the City Barrister and Head of Standards Division will prepare necessary documentation.
The City Mayor approved the release of £4.4 million from High Needs Capital to deliver Designated Specialist Provision (DSP) or SEND Unit Provision places between 2026-2029 on 14 August 2026. Authority was delegated to the Director of Education to agree final school sites and place configurations.
The Assistant City Mayor, Environment and Transport approved the implementation of a 20mph Zone in the Columbine Road Area and the advertisement of the required Speed Limit Order on 14 July 2026. The scheme is funded from the Transport Improvement Works budget.
The City Mayor approved the freehold disposal of 52-58 Oxford Street, Leicester, LE1 5XW, to National Grid Electricity Distribution (NGED) for £2m on 6 July 2026. The City Barrister and Head of Standards Division will prepare necessary documentation, and the Director of Estates and Building Services Division will agree detailed terms.
The City Mayor approved a permanent increase of £105,000 to the Arts & Museum budget ceiling to support festivals, and one-off funding of £10,000 for the rebranding of Leicester Riverside Festival on 29 June 2026. This funding will be sourced from the budget strategy reserve.
Full council record
Decision
To approve disposal of the ground lease interest of Holiday Inn, St Nicholas Circle Leicester, LE1 5LX, (UPRN 1427) by way of 1:1 negotiation with the holder of the ground lease-to the hotel operator (MCAP Global Finance (UK) LLP) for £1.8m, plus and agreed contribution of £20,000 for City Council professional fees
The Director of Estates and Building Services has approved the valuation of the site supported by an external RICS Red Book valuation.
It is noted that the City Barrister and Head of Standards Division will prepare and execute all necessary documentation required. The Director of Estates and Building Services Division will agree the required detailed terms.
Reasons for the decision
The sale will enable Holiday Inn to upgrade and enhance the facility. The sale will also give a capital sum to the City Council that exceeds the income stream under the ground lease for the remainder of the ground lease term. It is to be noted that the value of an interest such as this will decline over time.
Supporting Documents
Details
| Outcome | For Determination |
| Decision date | 15 Jul 2026 |
| Effective from | 23 Jul 2026 |
| Subject to call-in | Yes |