THE waterside development by the Grand Union Canal in Leicester is having a bad effect on businesses that are being forced out to make way for the scheme.
Dozens of companies are affected, as the area is packed with commercial premises, that have been told to 'pack-up and get out' by Leicester City Council by its compulsory purchase orders, Alan Tilbury tells us.
Closing down
The result is that some are closing down for good, not being able to afford the high commercial rates that the authority is demanding for new premises. But the council knows that it can make millions from the sale of waterside properties,and in this case it is stated 300 new homes will be build as well as a big area of commercial properties at high rents and rates.
Business Base contains many commercial businesses, but is scheduled for demolition, so all will have to move. Some have moved out but others are unable to find suitable units at an affordable price and are going out of business.
Far too expensive
Many are struggling to find premises, and though the council is offering units, these are too large for most and thus far too expensive, with business unable to find anything suitable, with one moving out of the city to Hinckley.
The result is of course that many jobs will be lost by the businesses closing down.